STRATEGIC DIRECTIONS FOR THE SUSTAINABLE DEVELOPMENT OF AZERBAIJAN'S INDUSTRIAL SECTORS

Abstract

The article substantiates, from both scientific and practical perspectives, the importance of effective organization and management of sustainable industrial development based on the application of innovative technologies. The current state of the Republic’s economy and the key factors influencing its development are analyzed in a logical sequence. Particular emphasis is placed on the need to reduce energy costs across all sectors of the economy in order to enhance energy efficiency, given the energy-intensive nature of industrial and agricultural production. The study also highlights the importance of increasing the level of fuel and energy supply and attracting greater investment.

At the same time, an econometric modeling methodology based on regression equations and a new linear model is proposed to examine the processes of assessing and improving the efficiency of human capital utilization. This approach is justified by the growing role of digital technologies, which require a qualitatively new framework for the formation and development of intellectual capital.