Creating a more open and flexible legal environment for technology transfer activities.

The amended Law on Technology Transfer aims to build a modern, transparent, and efficient technology market; and promote innovation among businesses.

On the morning of December 10th, continuing the 10th session of the 15th National Assembly , under the chairmanship of Deputy Speaker Le Minh Hoan, the National Assembly passed the Law amending and supplementing a number of articles of the Law on Technology Transfer with 89.01% of the attending delegates voting in favor.

The amended Law on Technology Transfer aims to build a modern, transparent, and efficient technology market; promote innovation among businesses, enhance technological capabilities, and increase competitiveness in the context of globalization and digital transformation.

Promoting innovation

According to the Summary Report on receiving, revising and explaining the draft Law amending and supplementing a number of articles of the Law on Technology Transfer presented by Minister of Science and Technology Nguyen Manh Hung, authorized by the Prime Minister, the draft Law has fully absorbed the opinions of National Assembly deputies, relevant agencies, the conclusions of the National Assembly Standing Committee, and the opinions of Government members.

After receiving, explaining and revising, the draft Law on Technology Transfer has revised 21 articles, added one new article and abolished 9 articles. The content of the articles and clauses of the draft Law has relatively fully institutionalized the Party's new guidelines and policies; meeting the requirements, goals, amendments and supplements to the Law.

Regarding the scope of technology, the draft Law expands the concept to include not only machinery and equipment but also knowledge, data, designs, models, algorithms, software, and artificial intelligence, considering all as technological objects in the full sense.

The draft also clearly specifies the forms of technology transfer, quality management processes, standards, and technical specifications, reflecting current technological trends where added value is concentrated on intangible assets, flexible innovation models, and digital solutions.

The draft aims to finalize regulations establishing and protecting the ownership and use of technology in accordance with laws on intellectual property, science , technology and innovation, public asset management, the Civil Law, relevant laws, and international treaties.

Minister of Science and Technology Nguyen Manh Hung speaks. (Photo: Doan Tan/VNA)

Organizations and individuals who legally own or use technology are permitted to commercialize the technology or contribute it as capital to investment projects or businesses.

Building a modern, transparent, and efficient technology market.

The Law amending and supplementing a number of articles of the Law on Technology Transfer has been completed in a comprehensive, modern direction and in accordance with the development requirements of the digital economy. The Law focuses on clarifying concepts, expanding the scope of regulation, and enhancing transparency in technology transactions. The amendment aims to remove long-standing obstacles in commercializing research results, connecting technology supply and demand, and expanding cooperation opportunities between domestic and foreign entities.

One of the key changes is the shift in approach from "control" to "promoting innovation," creating a more open and flexible legal environment for technology transfer.

According to the new direction, technology is not only a means of production but is considered a valuable asset that can be valued, invested, commercialized, and have its profits distributed transparently.

Regulations related to technology valuation, technology-based equity contributions, and risk-sharing mechanisms in research and development collaborations have been clarified, creating a foundation for the healthy and substantive development of the technology market.

Risk management and technology assessment were topics of great interest to many delegates. The Party and State's policy is to control outdated technologies and technologies that pose a risk to health and the environment.

The law stipulates that technology appraisal only applies to projects using technology that is restricted from transfer or has the risk of negative impacts on the environment, in order to prevent risks from the beginning. This is in line with the principle of protecting the environment and public health, because the consequences, if they occur, will be difficult to overcome and much more expensive than early control.

Another important aspect is the decentralization of technology assessment to local authorities. Decentralization is only effective when accompanied by clear national criteria, public disclosure of assessment results, and the right of state management agencies to monitor and conduct post-assessment. Post-assessment should be strengthened to prevent risks such as inflated technology prices, adoption of outdated or environmentally polluting technologies, but without creating barriers to innovation by businesses.

The law also focuses on developing intermediary organizations, a key element of the technology market. Brokerage, consulting, technology evaluation, price appraisal and supply-demand connection organizations are supported to develop more professionally and transparently. The construction of technology exchanges and innovation support mechanisms will overcome the long-standing weaknesses of the intermediary ecosystem, creating a smooth operating platform for the market.

To enhance state management capacity in the context of rapidly changing technology, the Law focuses on comprehensive digital transformation in monitoring, statistics, and public disclosure of technology transfer and high-tech activities.

Detailed, quantitative regulations will be guided by the Government to ensure flexibility and timeliness with reality. The State continues to apply a post-audit mechanism with strong sanctions, while paying attention to the entire technology life cycle from research, development, testing to application and especially the commercialization stage.

The amended Law on Technology Transfer ensures risk control while facilitating investment activities, and simultaneously promotes innovation, enhances technological capacity, and strengthens national competitiveness.

The amendment to the Law on Technology Transfer is considered a significant step forward in perfecting the institutional framework, facilitating the flow of technology, and promoting a knowledge-based economy.

The Law amending and supplementing a number of articles of the Law on Technology Transfer has been passed and implemented synchronously with related laws such as the Law on Science, Technology and Innovation, the Law on Intellectual Property, the Law on Investment and the Law on Enterprises, which will form a modern, transparent and effective legal corridor for the entire technology commercialization process./.

(VNA/Vietnam+)

Source: https://www.vietnamplus.vn/tao-moi-truong-phap-ly-coi-mo-linh-hoat-hon-cho-hoat-dong-chuyen-giao-cong-nghe-post1082176.vnp