IDEA: Investing in the Digital Economy of Azerbaijan

This report presents the findings of the Investing in the Digital Economy of Azerbaijan (IDEA) project, a collaboration between the World Economic Forum, the Centre for the Fourth Industrial Revolution Azerbaijan and the Azerbaijan Export and Investment Promotion Agency.

The project's two-part aim is to: (1) support Azerbaijan in growing direct foreign investment in the digital economy (digital FDI); and (2) understand which technology tools can be used to attract and promote investment (InvesTech). Attracting and facilitating digital FDI is important as it brings not only capital but also embedded knowledge and technology, although it requires creating a "digital-friendly" enabling environment. At the same time, technologies such as artificial intelligence, big data and cloud computing offer tools to help investment decisions by both governments and firms.

The report delves into opportunities to grow digital FDI and support the adoption of InvesTech tools. Through the findings from a series of business surveys, interviews and consultations with government agencies, a set of policy options were proposed to the government of Azerbaijan to consider and implement, aiming to catalyse investment growth in the digital economy and harness the transformative power of InvesTech.