Azerbaijan, DCO discuss digitalization of public finance
Baku, October 6, AZERTAC
On October 6, Sahil Babayev, Azerbaijan’s Minister of Finance, met with a delegation of the Digital Cooperation Organization (DCO), led by Secretary-General Deemah AlYahya.
The meeting focused on digital transformation and innovation financing. The sides exchanged views on funding national digital priorities, boosting the efficiency of public investments, exploring innovative financing mechanisms, and expanding investment partnerships in digital infrastructure and innovation.
Minister Sahil Babayev praised the DCO’s role in driving digital transformation, fostering the digital economy, and strengthening cooperation among member states. Expressing satisfaction with the approval of Azerbaijan’s membership in the DCO, the Minister highlighted the importance of deepening cooperation with the organization.
Minister Babayev noted that the “Action Plan for Accelerating Digital Development in the Republic of Azerbaijan for 2026–2028” outlines the key directions of the country’s digital transformation agenda, covering priorities such as artificial intelligence, innovation, and cybersecurity. He emphasized that digital development is a top state priority, highlighting the Council on Digital Development, chaired by Azerbaijani First Vice-President Mehriban Aliyeva, which coordinates and shapes state policy and implementation in key digital areas.
The Minister also briefed the delegation on ongoing reforms to digitalize public financial management, highlighting the Digital Public Finance information system (RDMİS). The system integrates budget management, treasury, accounting, public procurement, and state property management into a unified digital ecosystem, ensuring more efficient, flexible, and prompt operations.
Addressing the potential of artificial intelligence in public finance management, Minister Babayev stated that the development of AI-driven solutions within the RDMİS platform has already begun. He noted that AI technologies present vast opportunities for financial analysis, risk identification, forecasting, anomaly detection, and decision support.
For her part, Deemah AlYahya commended Azerbaijan’s reforms in digital transformation and public financial management, expressing the DCO’s interest in expanding expertise sharing and practical cooperation in digital development, artificial intelligence, innovation, and investment partnerships.
The meeting also featured discussions on modernizing the treasury system, financing digital transformation projects, and attracting investment. The parties underscored the importance of enhancing public investment efficiency, mobilizing private capital and international financial institution (IFI) resources, and encouraging investment in digital infrastructure and innovation.
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