The minister of communications and information technology, Ali Abbasov, has said that by 2020 Azerbaijan's revenue from ICT should equal oil revenue.
Abbasov told journalists that if the introduction of special economic zones proceeded according to plan, the revenue from information and communications technology - ICT - would top oil revenue.
“By 2020, if not earlier, ICT and oil revenues will be equal, after which ICT may become the engine of Azerbaijan’s economy,” the minister said.
Abbasov said earlier that Azerbaijan was seriously considering creating a simplified version of a Regional Innovation Zone.
Regional innovation zones across the country will create favourable financial, fiscal and other conditions for private, state and foreign hi-tech firms. Research centres and an International Information Technology University are also planned for the zones. The zones will aim to attract skilled local and foreign personnel.