On June 21, the Ministry of Finance held a conference to collect opinions on the Decree regulating mechanisms and policies for public-private partnership in science and technology (S&T), innovation and digital transformation.
It is expected that when passed, this will be an extremely important legal basis for public-private cooperation, a new driving force for national science and technology development.
Specify mechanisms, preferential policies, support, and guarantees for outstanding investment.
Resolution No. 57-NQ/TW of the Politburo has identified important policies and solutions to create breakthroughs in developing science, technology, innovation and national digital transformation, in which promoting public-private cooperation in this field is one of the important solutions.
Implementing Resolution 57, the Government assigned the Ministry of Finance to preside over the development of a Decree to remove institutional bottlenecks, expand the space for public-private cooperation, and effectively mobilize resources for the development of these strategic areas.
“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 turning science, technology, innovation and digital transformation into truly central driving forces of economic growth and sustainable development of the country,” Minister Nguyen Van Thang emphasized.
According to the Minister, 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.
“The Central Steering Committee and the General Secretary have directed the urgent development of 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,” said the Minister.
Investment in the form of public-private partnership has been stipulated in the PPP Law and has been implemented in Vietnam for many years. However, 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, joint venture cooperation are still complicated, not suitable for strategic technology research and development tasks.
Faced with that situation, the Decree is built according to the following major orientations:
One is to expand and supplement other forms of public-private partnership in addition to those stipulated in the PPP Law and the Law on Management and Use of Public Assets. For each form of cooperation, this decree also orients groups of products, services and appropriate implementing entities to create favorable conditions for application.
Second is to specify mechanisms and policies for incentives, support, and guarantees for superior investment.
Third is strong decentralization, maximum simplification of processes, shortening of procedures, streamlining of content to suit the characteristics of science and technology, innovation and digital transformation, creating conditions for fast, flexible and effective implementation.
Fourth, clearly define the responsibilities of state management agencies, host organizations and investors: ensuring transparency, efficiency and risk control in implementation.
The conference also listened to opinions from experts and businesses such as Viettel, CMC, FPT, Vingroup. Opinions at the conference were unanimous on the objectives and affirmed the urgency of issuing this Decree. Delegates proposed many practical contents, at the same time expressing the interest and readiness to participate of state agencies, corporations, and technology enterprises when this Decree is issued.
There will be difficulties but they can be solved.
Concluding the conference, Minister Nguyen Van Thang requested the drafting agency to fully absorb comments and suggestions to complete the Draft Decree, both in form and content, ensuring feasibility, transparency and consistency with relevant laws that will come into effect in the coming time. The Minister also requested to ensure the progress of promulgating the Decree in June according to the conclusion of the Central Steering Committee on the implementation of Resolution 57.
The Minister emphasized: 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, the legal documents must be the most complete. At the same time, the implementation must be determined. According to the Minister, the most difficult thing in this content is the story of classifying and valuing assets. However, if we are transparent and carry out valuation methodically, these difficulties will be resolved.
The Minister also requested the drafting agency to closely coordinate with the parties, maximally absorb the opinions of the delegates today to complete the decree in the following direction:
Closely follow the directives in Resolution 57 and Resolution 93 of the National Assembly, action plans and resolutions of the Government for implementation. Review and complete regulations to simplify procedures to the maximum, apply outstanding preferential policies in public-private partnership. The review is both comprehensive and focused, limited to a number of types and products, and should not be too broad, "not everything can be PPP"...
This decree is expected to be issued in June 2025 and take effect from July 1, 2025.
Source: https://vietnamnet.vn/bo-truong-nguyen-van-thang-noi-dieu-kho-nhat-trong-hop-tac-cong-tu-ve-khcn-2413715.html
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