The amendments to the Science and Technology Law are expected to create a smoother legal path for Vietnam to keep up with the global trend in science and technology, according to Deputy Minister of Science and Technology Bui Thi Duy.

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Deputy Minister of Science and Technology, Bui Thi Duy.

Image: VNA/CVN

He told Vietnam News Agency (VNA) that the Science and Technology Law, which was first adopted in 2000 and amended in 2013, played an important role in creating a legal corridor for scientific and technological activities for the country’s social and economic development.

However, against the backdrop of the changing global situation, especially the rapid growth of science and technology and the rise of digital technology, the law needs to be amended. This is expected to attract more venture capital and human resources from companies to devote to R&D activities, he added.

He said the revised Science and Technology Law will create a suitable legal framework to promote the development of the national innovation system while encouraging innovation in enterprises, communities and state administration bodies.

Deputy Minister Bui Thi Duy stressed the need to include in the draft law measures aimed at enhancing the mobilization of investment resources for society.

He believed that the state should implement support programmes to create more favourable conditions for the transfer of research results and links between companies and universities.

He pointed out that at the same time, the bill is expected to create mechanisms to encourage companies to engage in scientific and technological development, including reducing land rents for them, especially for small and medium enterprises during their difficult beginnings.

He stressed that in order to increase the number of researchers and social investment resources, the Science and Technology Law should be comprehensively amended, and all regulations related to R&D activities should be incorporated into the law and not just rely on existing regulations.

The official also made several specific proposals for amendments to the law, including those aimed at increasing the university’s investment in research and development activities, as well as policies to support doctoral students.

At the same time, it is necessary to build centers of excellence, which closely link research and training activities. Vietnam is currently encouraging the establishment of separate companies in universities, which has not only generated revenue for universities, but also helped commercialize research results.

Regarding the mechanisms for enhancing financial investment in science and technology, he said the first question to be resolved is how to align the provisions of the Science and Technology Act with existing financial policies to make the best of all these policies.

The official stressed that to ensure the efficient use of investment resources, it is necessary to amend the regulations related to public procurement and tenders when using investment funds for technological development, which come from the state or companies. He said that this will encourage state support mechanisms.

He added that in particular, it is necessary to research new topics and new basic technologies, and even purchase research results and inventions from abroad, and then transfer them to domestic companies so that they can use and develop these inventions.

Art/shroud