A notable example is Law No.90/2025/QH15, which amends and supplements eight laws related to finance, procurement, and investment. This law expands fields for PPP (Public-Private Partnership) investment, increases the state capital contribution ratio to 70%, simplifies administrative procedures, and offers special incentives for science and technology projects.
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The Government sets a target to allocate 3% of the total budget expenditure to science and technology in 2025. |
The appraisal process is shortened, and the law allows the direct appointment of investors, particularly those owning strategic technologies. The state will support up to 70% of infrastructure funding and share revenue risks during the first three years. Additionally, the law removes obstacles related to the establishment of project enterprises, introduces flexibility in handling output and revenue for BOT (Build-Operate-Transfer) projects, and creates favorable conditions for investment and sustainable development.
To concretize this law, the Ministry of Finance promptly drafted and submitted to the Government a decree on mechanisms and policies for PPP in these fields. Decree No. 180/2025/NĐ-CP, which came into effect in July, marks an important step in establishing effective mechanisms for mobilizing resources, promoting research and the application of new technologies, and fixing limitations in the relationship between the state and businesses.
Taking into account opinions from various stakeholders, the Government prioritizes cooperation in digital transformation, workforce training, and the development of digital infrastructure. The decree also encourages private sector participation in scientific research by offering a range of incentives, including financial support, corporate income tax incentives, land exemptions and reductions, and risk-sharing mechanisms. Administrative procedures are simplified, authority is clearly delegated, and processing times are significantly reduced.
Regarding the responsibilities of the state, scientists and enterprises in implementing policies, Pham Thy Hung, Deputy Director of the Department of Public Procurement, stated that the most important lesson is to clearly define the role of each party in the development of science, technology, and innovation. The State is responsible for setting objectives and providing directions for technological development and digital transformation. Scientific and technological organizations are tasked with conducting research activities, developing technologies, products, and services, as well as training high-quality human resources. Meanwhile, enterprises are responsible for funding research activities, operating infrastructure, serving as platforms for applying new technologies, and organizing the production and commercialization of products.
The decree clearly stipulates the responsibilities of all parties to ensure that in the course of cooperation, each side fully understands its role and duties, emphasized Hung.
It also clearly outlines regulations on intellectual property rights, the use of research outcomes, and data management in these fields to protect the interests of all parties involved and facilitate the application and transfer of technology.
Public-private partnerships are expected to create positive synergy, while also placing greater responsibility on private investors in managing and developing projects. This approach helps ensure the effective use of public funds to advance science and technology, foster innovation, and drive digital transformation.
Source: VNA