Creating a foundation for public-private cooperation in science and technology

The Decree regulating mechanisms and policies for public-private cooperation in science and technology, innovation and digital transformation, which is being developed by the Ministry of Finance, will create a separate, specific and breakthrough legal corridor for this strategic field.

Building a separate, specific legal corridor

Implementing Resolution 57-NQ/TW of the Politburo on breakthroughs in science, technology, innovation and national digital transformation, the Ministry of Finance is developing a Draft Decree regulating mechanisms and policies for public-private cooperation in science, technology, innovation and digital transformation, in order to effectively mobilize resources for the development of these strategic fields.

According to Minister of Finance Nguyen Van Thang, the public-private partnership (PPP) model in the fields of science and technology, innovation and digital transformation is not only a need, but also an inevitable driving force for national development in the new period.

In practice, the implementation of PPP in the fields of science and technology, innovation and digital transformation still faces many difficulties due to the lack of a separate legal corridor suitable to the specific nature of this field.

Science and technology, innovation are important driving forces for national development.

Policy is only truly meaningful when people respond and have specific results.

Therefore, the Draft proposes to stipulate a number of specific mechanisms, accepting risks applied to PPP projects in the field of science and technology to support, incentivize, and ensure investment, such as applying the proportion of state capital participating in PPP projects up to 70% of the total investment to support construction and pay compensation, site clearance, support, resettlement; support construction of temporary works. At the same time, allowing the application of a 100% sharing of the difference between actual revenue and revenue in the financial plan when actual revenue is lower than the revenue in the financial plan. Conditions for application are prescribed in Clause 2, Article 82 of the PPP Law.

The draft also proposes to allow the application of a mechanism to terminate the contract before the deadline when actual revenue is lower than 50% of the revenue in the financial plan as required by the investor.

In particular, PPP projects with scientific research and technology development activities are subject to the risk acceptance mechanism as prescribed in Article 4, Resolution No. 193/2025/QH15. That is, they are exempt from civil liability when causing damage to the State, and do not have to repay the State budget when the research results are not as expected, provided that the prescribed procedures have been fully implemented.

The above draft also stipulates the mechanism to encourage public service units, scientific and technological organizations, and state-owned enterprises to use public assets (including data) for joint ventures and associations to research and develop strategic technologies and train human resources. At the same time, it stipulates the use of assets that are the results of scientific and technological tasks for joint ventures and associations and the State's support and incentive policies for this form of cooperation.

Many breakthrough expectations

Giving comments to complete the Draft Decree at the consultation conference organized by the Ministry of Finance last weekend, Mr. Nguyen Nam Hai, Director of the Department of Financial Planning ( Ministry of Science and Technology ) proposed that it is possible to add a Venture Capital Fund to the Law on Science, Technology and Innovation, in which the State and the private sector contribute capital, but the State does not hold a controlling stake to ensure an independent operating model. This Venture Capital Fund will be managed and operated by professional private organizations.

Adding to the above issue, Mr. Nguyen Tu Quang, Director of BKAV Technology Group, said that venture funds should operate under a non-profit model. This model can be learned from China's experience, with investment funds for science and technology supported by the government. According to the representative of Vingroup Group, this venture fund can select investment projects based on certain criteria and needs to have the coordination and investment participation of private funds.

From the fact that CMC Technology Group has established an Innovation Center, Chairman of the Board of Directors of CMC Nguyen Trung Chinh suggested that the Drafting Committee could stipulate a chapter in the Decree on this model. "In the future, localities, ministries and branches will build and establish many innovation centers. This is a model that focuses on public investment - private management, so specific regulations are needed," Mr. Chinh suggested.

Also in the Draft Decree, in addition to the traditional PPP model, the legal foundation is laid for three-party cooperation forms between the State - research institute - enterprise. Mr. Chinh raised the issue that needs to be clarified, with this model, whether scientists can contribute capital or not and what is the ratio and responsibility.

With the goal of bringing the Decree into effect from July 1, 2025, Minister Nguyen Van Thang requested units to focus on completing documents and submitting them to the Government for promulgation in June 2025.

In addition, the Minister suggested continuing to widely solicit opinions from ministries, branches, localities, scientific organizations and the business community to ensure that policies, when issued, are a breath of reality, creating trust and proactive participation of the private sector. "Policies are only truly meaningful when people respond and have specific results. Otherwise, it will be a great waste of resources, expectations and trust," Minister Nguyen Van Thang noted.

according to Investment newspaper

Source: https://mst.gov.vn/tao-nen-mong-hop-tac-cong-tu-trong-khoa-hoc-cong-nghe-197251019082756422.htm