Confederation of Entrepreneurs: Over 15 years $250B invested in Azerbaijani economy

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Over the past 15 years, $250 billion has been invested in Azerbaijani economy, half of which accounts for foreign investment, the President of the National Confederation of Entrepreneurs (Employers’) Organizations of the Republic of Azerbaijan Mammad Musayev said at the conference “Cooperation of entrepreneur-professional education”.

“Investment means attraction of new technologies, creation of new enterprises. And this, in turn, presents new requirements for education, including professional education. On this matter, we work closely with the Ministry of Education and individual universities, educational institutions. A lot of work has been done within the framework of the signed agreements, which gives positive results,” Musayev said.

In his turn, the Deputy Minister of Education of Azerbaijan Firudin Gurbanov, who made a speech at the event, noting that Azerbaijan continues to optimize existing and create new vocational schools, which will help improve human resources.

“As a result of the optimization, in accordance with the relevant decisions of the Cabinet of Ministers, on the basis of 34 vocational schools located in Baku, Ganja and Gabala district 14 specialized vocational education centers have been created. As part of measures taken to improve the regulatory framework of vocational education in 2018 in Azerbaijan for the first time a law on vocational education was adopted,” Gurbanov said.

“In particular, the new law provides for the provision of financial, legal and other benefits in order to increase the interest of employers in attracting graduates of vocational schools. I would also note that memorandums of understanding have been signed between a number of educational institutions, local and foreign companies,” the deputy minister added.