Kamran Nureddin oglu Abdullayev
An innovative economy is not just an economy that uses the achievements of science in its development. It is an economy in which intellectual capital accounts for the bulk of the value of the production system, corporations and companies, enterprises and firms. In an innovative economy, it is the sensitive attitude and concern for scientific knowledge and intellectual capital that ensure the main growth of the national GDP.
The article examines the current state of the organization of innovative activities in the national economy in a modern market economy. In recent years, rates of economic growth have been observed in the development of the national economy of Azerbaijan. According to international ratings, Azerbaijan is improving its economic situation every year. The correct economic policy pursued in all these processes, the transition to modern innovative development have a positive impact. In Azerbaijan, too, sustainable reforms based on international industrial experience are considered very cost-effective and are ongoing. The article also analyzes the position of Azerbaijan in the field of innovations in international rankings in comparison with other countries. The study shows that the volume of industrial products produced in Azerbaijan in recent years in the industrial sector, the cost of technological and product innovation is low, and the innovative capabilities of Azerbaijan in the International Competitiveness Report are low compared to other countries.
The article analyzes the existing problems in the field of application of modern innovations in the Republic of Azerbaijan, presents proposals and recommendations for their elimination.