Human Capital

The civic factor, the high level of well-being and a decent standard of living of the population are at the center of state policy in Azerbaijan. In the new era, the state aims to increase public welfare through the development of knowledge and skills that meet the requirements of the modern labor market, the formation of competitive human capital, society's high digital culture and skills, and the formation of an economy based on innovative technology. Azerbaijan has prioritized the achievement of prosperity through the formation of human capital in line with the growing competition in the world. From this point of view, our country is actively working towards the formation of a favorable infrastructure for the development of the digital economy and technologies. The establishment of the Center for Analysis and Coordination of the Fourth Industrial Revolution, the Centre for the Fourth Industrial Revolution Azerbaijan (C4IR Azerbaijan) of the World Economic Forum in Azerbaijan, under the Presidential Decree of the Republic of Azerbaijan dated January 6, 2021 also stems from the goal of bringing our country to the forefront in a new technologically competitive environment.

At the same time, it implements new projects in order to form human capital, human resources and promote qualified personnel on the basis of continuous improvement and efficiency in the field of management. For example, the competition "Rise" is an important step taken to identify and support promising managers with a high intellectual level and managerial qualities, knowledge and skills suitable for the new era, and ensure the creation of a personnel pool in the country. In addition, the implementation of the "Path to Success" career development program is of particular importance in effective use of the existing potential in the formation of a high-potential reserve personnel base in the Ministry of Economy, raising the level of professionalism, ensuring its rotation, creating conditions for comprehensive development, as well as organizing the exchange of experience in the field of management.

Given the crucial role of human capital, attention to this area will increase against the background of the constant development of innovations. For this, more favorable conditions and environment will be created. This will also be served by such measures as improving the quality of education, creating favorable conditions that stimulate innovation, building an ecosystem that stimulates creativity and innovation in society to move the country forward in the competitive struggle, and creating a single digital platform of the state.