Regulation of the Digital Economy in Modern Conditions of Competitiveness

Abstract

The article is devoted to the main directions of regulation of the digital economy in the Republic of Azerbaijan. In recent years, growth rates in the field of digital economy have been observed in all countries of the world. Analysis shows that in international rating reports the Republic of Azerbaijan has been annually increasing its economic position in terms of economic development indicators. All these processes are positively influenced by factors such as the implementation of an effective economic policy in the country, the development of a modern digital economy, and the stimulation of attracting foreign investment. The development of the digital economy in globalizing world is considered one of the main priorities of developed countries. However, as in other regional countries, there are certain problems in the development of the digital economy, the introduction of ICT in all economic spheres, and the export of modern digital technologies in the Republic of Azerbaijan.That is why it is important to regulate the digital economy in Azerbaijan, taking into account international experience. The continuous reforms carried out in the Azerbaijan on the basis of international experience in the field of digital economy are considered effective. The level of development of the sphere of digitalization in the Republic of Azerbaijan, the output of products (services) in the ICT sector and the volume of investments in fixed assets is not high compared to previous years. That is why Azerbaijan’s position in international reports on the digital economy is lower than of other countries in the region. The article analyzed the measures taken in the field of digital economy in the Republic of Azerbaijan, as well as the existing problems in this area. The analysis shows that economic measures towards the development of the digital economy should be continued.