Decree promotes technology transfer

11:07 | 12/07/2018 Science - Technology

(VEN) - Under a government decree that went into effect on July 1, enterprises are entitled to an interest rate no higher than two percent per annum on loans for technology transfer projects from the National Technological Renovation Fund in the line of investment incentives, areas of investment incentives in accordance with the Law on Investment.

decree promotes technology transfer
A new law and decree focus more on the development of the science and technology market

Easier access to capital

Governmental Decree 76/2018/ND-CP details and guides the implementation of a number of articles of the amended Law on Technology Transfer, supporting enterprises, investment incentives, and preferential areas receiving technology transfer from scientific and technological organizations.

The sluggishness of scientific and technological development funds was the biggest bottleneck. For example, although the National Technological Renovation Fund was established in 2015, it has only provided financial support of more than VND1 trillion for technology transfer projects nationwide.

Compared with previous laws, the amended Law on Technology Transfer and Governmental Decree 76/2018/ND-CP focus more on the development of the scientific and technological market. Specifically, a new law and decree encourage the commercialization of scientific and technological research results by assigning the right to scientific research units, and providing regulations for the division of profits derived from research results.

To encourage enterprises to promote technology transfer, a new law and decree also offers interest rates of up to two percent on loans from the National Technological Renovation Fund for technology transfer activities.

Developing scientific and technological market

Thanks to the promulgation of Governmental Decree 76/2018/ND-CP, enterprises are encouraged and supported to cooperate effectively with research institutes and universities in technology transfer activities.

However, according to Associate Professor Huynh Thanh Dat from the National University of Vietnam - Ho Chi Minh City, the status of FDI businesses based on investment incentives must be closely controlled to avoid transfer pricing.

To ensure effective support of preferential state policies, investments in scientific and technological research in institutes and universities should be considered investments in education.

According to data compiled by the Ministry of Science and Technology, about 1,900 new technologies are ready to be

transferred, of which more than 300 new technologies from developed countries are recommended by domestic

enterprises.

Thao Duong