BAKU, Azerbaijan, February 13. Azerbaijan's
score in the Global Innovation Index (GII) is around 2%, Chairman
of the Supervisory Board of the Baku Stock Exchange Farid Akhundov
said at an event dedicated to the PASHA Bank's Initial Public
Offering (IPO), Trend
reports.
According to him, the GII compares countries with each other,
and it also serves as a basis for comparing countries, including
their capital markets.
"This indicator in the index reflects the ratio of the market
capitalization of listed companies to gross domestic product. Due
to PASHA Bank's entry into the market, this ratio for Azerbaijan is
expected to increase from approximately 2% to around 3%. This may
seem insignificant in percentage terms, but it's a significant step
for the market," he added.
The Global Innovation Index is an annual ranking of countries by
their capacity for and success in innovation, published by the
World Intellectual Property Organization (WIPO).
