Mikayil Jabbarov: Azerbaijan sees increase in competitiveness

Azerbaijan is witnessing technological modernization and growing competitiveness in its economy, said Economy Minister Mikayil Jabbarov at the 2nd National Competition Forum in Baku,  Olaylar informs.

According to the minister, this progress is creating a more favorable environment for both local and foreign investors, while also boosting regional development opportunities.

"Competition is the driving force of a market economy. From an economic perspective, demand and supply are properly shaped only when there is competition. Innovation and productivity are only possible in a healthy competitive environment," Jabbarov noted.

He added that enhancing competitiveness, adopting new technologies, and boosting international reputation are playing a significant role in the countrychr("39")s economic progress.

"The agreements signed in the United States on August 8 and the processes that followed have further increased Azerbaijanchr("39")s economic appeal, also bearing strategic importance for the wider region," Jabbarov emphasized.