Azernews.Az

The Azerbaijani Information and Communication Technologies Development Fund will start financing large-scale projects from January 2013, the communications minister said on Thursday in a meeting with a delegation of TeliaSonera, a Sweden-based telecommunications company.

Ali Abbasov said that in the near future the government of Azerbaijan is planning to provide companies involved in the ICT sector with special privileges in taxation and customs.

Abbasov said earlier that the ministry had prepared proposals to reduce customs duties on imports of parts for high-tech products into the country.

The fee for computers imported into the country, as the minister said, is three per cent, while the duty on imported spare parts for their production ranges from 10 to 15 per cent of the cost.

Despite the rapid development of the ICT sector in Azerbaijan, exports are far behind imports. In order to further develop the ICT sector in Azerbaijan and increase its competitiveness, Abbasov said, it's necessary to optimize relevant tax laws and the availability of concessional loans.

Azerbaijan is implementing a project on establishing a fund to support ICT which will help to issue loans and grants to companies. Establishment of a fund will allow local companies to receive both monetary and fiscal benefits.

Azerbaijani President Ilham Aliyev on March 15 signed a decree on establishing a state fund for development of information technologies under the Ministry of Communications and Information Technologies.

The Fund will be financed from the state budget and all groups of the population will benefit from these advantages. The Fund will also provide financial support to promising business start-ups in the fields of science and technology.

In international practice the participation of small innovative companies in such Funds' programs allows them to bring the development of scientific ideas to the creation of a sustainable business that is attractive for investors.

Its primary aim is to pursue a state policy aimed at developing and supporting small enterprises in the scientific and technical fields, provide them with direct financial assistance and training, which, in turn, facilitates the creation of new jobs.