Decree on public-private partnership in science and technology expected to be issued in June

At the conference, Minister of Finance Nguyen Van Thang emphasized: "The Ministry of Finance identifies this as an important and urgent task, demonstrating the Ministry's political responsibility in realizing the Party's guidelines on growth model innovation, financial mechanism reform, and quickly making science, technology, innovation and digital transformation truly become the central driving force of economic growth and sustainable development of the country."

According to Minister Thang, although there is a Law on Investment in the form of public-private partnership (PPP), in the fields of science and technology, innovation and digital transformation, there is a need for innovative and practical solutions. According to the direction, it is necessary to urgently develop this Decree to create a clear legal corridor, promoting cooperation between the state, enterprises and research centers. This is an important step to remove the remaining limitations in the relationship between the state and enterprises in this field.

Investment in the form of public-private partnership has been stipulated in the PPP Law and has been implemented for many years in Vietnam, but the results of applying this form in the fields of science, technology, innovation and digital transformation are still very limited due to the lack of legal mechanisms for flexible cooperation models between the State - enterprises - science and technology organizations such as universities, research institutes, and public service units; Lack of appropriate and strong incentive and risk-sharing mechanisms, failing to create trust for investors, investment processes and procedures, and joint venture cooperation are still complicated, not suitable for strategic technology research and development tasks.

Therefore, the Decree on Regulations on mechanisms and policies for public-private partnership in science and technology, innovation and digital transformation is designed to expand and supplement other forms of public-private partnership in addition to those prescribed in the PPP Law and the Law on Management and Use of Public Assets. For each form of cooperation, the Decree also orients appropriate product and service groups and implementing entities to facilitate their application.

This Decree will also specify mechanisms and policies for incentives, support, and superior investment guarantees; Strong decentralization, maximum simplification of processes, shortening of procedures, and streamlining of content to suit the specific characteristics of science and technology, innovation, and digital transformation, creating conditions for fast, flexible, and effective implementation.

At the same time, clearly define the responsibilities of state management agencies, host organizations and investors: ensuring transparency, efficiency and risk control in implementation.

The Minister of Finance emphasized that determining the content of the Decree is “very difficult”, because this is the first time there is public-private cooperation in the field of science and technology, so we must be determined from the institutional stage, and the legal documents must be the most complete. At the same time, the implementation must be determined. According to Minister Thang, the most difficult thing in this content is the story of classifying and valuing assets. However, if we are transparent and implement valuation methodically, these difficulties will be resolved.

This Decree is expected to be issued in June 2025 and take effect from July 1, 2025.

Nhat Thu

Source: https://baophapluat.vn/du-kien-ban-hanh-nghi-dinh-ve-hop-tac-cong-tu-linh-vuc-khoa-hoc-cong-nghe-trong-thang-6-post552552.html