Azerbaijan National Academy of Sciences

Director of the High Technologies Park (HTP) of ANAS, Ph.D. in Agrarian Sciences Vugar Babayev took part in the 42nd meeting of the Board of the Islamic Development Bank, held May 14-18, 2017 in the city of Jeddah, Saudi Arabia.

The meeting, which was attended by more than 2,000 participants, discussed issues such as bringing education in member countries to match the demands of the labor market, sharing experience in this area, distributing initiatives and innovative ideas, strengthening cooperation with the private sector.

Within the framework of the visit, Vugar Babayev met with Khalid Al Abudi, the general executive director of the Islamic Development Bank of the Islamic Corporation for Private Sector Development (ICD), a subsidiary of the Islamic Development Bank. The meeting exchanged views on issues of mutual interest.

Informing about the directions of the High Technologies Park of ANAS, Vugar Babayev noted that the Park created by the Order of the President of Azerbaijan Ilham Aliyev is of great importance in the field of commercialization and transformation of scientific research into innovative products. The Director of the HTP stressed the need to implement successful projects and increase the flow of investment in this area to expand the national innovation system. He noted that the main purpose of the structure he represents is to contribute to national economic development through science, technology and innovation.

ICD Chief Executive Officer Khalid Al Abudi said that increasing the flow of investment among member countries and encouraging them for economic development with the goal of creating, developing and modernizing private enterprises is one of the priority issues of the structure it leads.

In conclusion, a memorandum of understanding on cooperation between ANAS and the ICD was signed. The memorandum provides for the implementation of joint investment projects for the development of small and medium-sized businesses.

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