Kinhtedothi - In the 2024 Capital Law, there are many specific and outstanding mechanisms and policies to realize the goal of science and technology development.
Applying science and technology to develop the capital
In the Capital Law 2024, there are specific and outstanding provisions to implement the goal of developing science and technology; in which, identifying key science and technology fields and preferential policies. Specifically, the Capital Law 2024 identifies key science and technology fields of the Capital (Clause 1, Article 23) and applies incentives to attract and maximize the potential of experts, scientists, and science and technology organizations participating in presiding over and implementing key science and technology tasks (Clause 2, Article 23), attracting talents who are Vietnamese citizens and foreigners to general science and technology activities (Clause 1, Article 16).
Apply income tax incentives to organizations and individuals with creative start-up activities in key areas (points a and b, clause 3, Article 43). Investment incentives for projects using or developing high technology, innovation and creative start-ups (points d and e, clause 1, Article 43), especially prioritizing attracting strategic investors for projects, industries and fields of science and technology (points b and c, clause 1, Article 42).
Along with that, regulations on measures to remove obstacles in the science management mechanism: applying the selection method or direct assignment for key science and technology tasks of the Capital, city-level pilot projects; applying the form of funding allocation according to the results and products of science and technology tasks; a mechanism for transferring without compensation assets, results, and products formed from science and technology tasks to enterprises, science and technology organizations, state management agencies, and public service units if they meet the conditions on capacity to apply and develop results and products to serve the management and socio-economic development of the Capital; supporting part of the budget from the city for enterprises and science and technology organizations to form research and development centers, laboratories, and receive technology transfer in key science and technology fields of the Capital, thereby promoting the development of the science and technology market of the Capital (Clause 3, Article 23).
Public higher education institutions, public vocational education institutions, and other public scientific and technological organizations in the city are allowed to establish or participate in establishing enterprises, and contribute capital to enterprises to commercialize scientific research results and develop technologies under the intellectual property rights of those institutions or organizations. Allowing civil servants working at public higher education institutions, public vocational education institutions, and other public scientific and technological organizations in the city to contribute capital, participate in the management and operation of enterprises established or participated in establishing by those institutions or organizations with the consent of the head of the institution or organization (Clause 4, Article 23).
This is a breakthrough provision in the Capital Law 2024. This provision aims to institutionalize Resolution No. 19-NQ/TW of the Central Committee, encouraging scientists, people working at universities, research institutes, and science and technology organizations in Hanoi to actively innovate, promote the results of implementing scientific and technological tasks in a practical direction, participate in the process of commercializing scientific and technological products, bringing economic value to the schools and institutes themselves to reinvest in developing science, technology, education, training and common economic value for the whole society.
Apply controlled testing mechanism
In addition, Hanoi is allowed to apply a controlled testing mechanism: Hanoi is allowed to apply a controlled testing mechanism for new innovative technologies, products, services, and business models in real conditions with limited scope, under the special control of competent state agencies in a number of fields that are capable of bringing high economic and social value and efficiency that the law has not yet regulated, has not yet allowed to be implemented, or current regulations of the law are no longer suitable for the characteristics and new features of technology, products, services, and business models to promote the capital to be a pioneer in innovation (Article 25).
The core and most important contents of the controlled testing mechanism include: organizations and enterprises permitted to conduct controlled testing must meet the conditions and fully perform the responsibilities and obligations prescribed by law. Specifically: technologies, products, services, and business models proposed for testing must be innovative and creative with scope of application and implementation in Hanoi, with priority given to technologies, products, services, and business models implemented within the scope of high-tech zones, the National Innovation Center, and the City's Innovation Center (Point a, Clause 3, Article 25).
The technologies, products, services, and business models proposed for testing have the potential to bring high economic and social value and efficiency, with priority given to the high-tech industry and key science and technology sectors of the capital; are not in the fields of national defense, national security, human gene modification and editing; and do not violate national security, social order and safety (Point b, Clause 3, Article 25).
Organizations and enterprises proposing testing must have a testing plan; commit to responsibility for the safety of users and related parties; risk control measures; user complaint settlement mechanism; scope and measures for compensation for damages; and must provide information and documents proving capacity in accordance with the proposed testing plan (Point c, Clause 3, Article 25).
The proposed testing scope is consistent with the control capacity of the city government (Point d, Clause 3, Article 25). The Law also clearly stipulates that the maximum controlled testing period is 03 years and can be extended once for no more than 3 years (Clause 1, Article 25).
The Law stipulates the principles for permitting and conducting controlled testing (Clause 4, Article 25); mandatory contents that must be included in the separate Testing Regulations for each technology, product, service or business model as prescribed by the City People's Committee (Clause 8, Article 25); powers and responsibilities of the agency guiding and controlling the testing process (Clause 7, Article 25); responsibilities and cases of exemption or exclusion from legal liability of organizations, enterprises and individuals conducting testing as well as of agencies and officials and civil servants directly guiding and controlling testing (Point d, Clause 4, Article 25).
The Law also details the authority and responsibility of the City People's Council in promulgating institutions to specify the criteria, conditions for selection and the order and procedures for permitting, adjusting, extending and terminating controlled trials (Clause 9, Article 25); the responsibility and authority of the City People's Committee in permitting, organizing guidance and controlling the trial process (Clause 6, Article 25). A special and outstanding provision of the Law is to allow the City People's Council to decide on the scope of exemption from the application of legal provisions for each specific trial project in accordance with the requirements and purposes of the trial at the request of the City People's Committee based on an assessment of the level of risk and controllability (Clause 5, Article 25).
The Law stipulates the responsibility of the Government, based on the report of the City People's Committee, to organize the review and evaluation of the results and effectiveness of controlled testing contents to decide according to its authority or submit to the competent authority to decide on the issuance of new, amended, and supplemented laws on related fields and contents as a basis for the official application of tested technologies, products, services, and business models (Clause 10, Article 25).
In addition, Hanoi City is piloting the establishment of a Venture Capital Fund using the state budget: Venture Capital Fund to invest capital in high-tech enterprises, science and technology enterprises, and creative startups in key areas of science and technology of the capital to support, innovate and commercialize scientific and technological products.
The venture capital fund is allocated charter capital from the city budget, and is allowed to receive funding and mobilize other legal capital sources according to the provisions of law. The management and use of the venture capital fund's capital sources are carried out according to market principles, accepting the possibility of risks, ensuring publicity, transparency, efficiency, and preventing loss and waste of capital (Clause 1, Article 36).
The Law stipulates that the City People's Committee shall develop a project to establish a Venture Investment Fund and submit it to the City People's Council for approval, clearly defining the Fund's organizational form of operation; the Fund's operating period; the level of charter capital support from the City budget; investment methods, cooperation objects, and recipients of investment capital; risk assessment and control mechanisms, and responsibilities of agencies, organizations, and individuals in the management and operation of the City's Venture Investment Fund (Clause 2, Article 36).
The City People's Council approves the project, regulates the organization and operation mechanism of the Venture Capital Fund, responsibilities for inspection, supervision, and reporting on implementation results. The City People's Committee decides to establish the Fund, promulgates the charter and investment regulations of the Venture Capital Fund (Clause 3, Article 36).
Strengthen competitive position and lead regional development trends
Hanoi is home to more than 70% of the country’s scientific and technological organizations, universities, and research institutes, along with more than 80% of laboratories and many leading experts. It is also the connecting point between domestic and foreign research centers. However, for many years, this advantage has not been fully exploited.
According to Chairman of the Hanoi Union of Friendship Organizations Nguyen Ngoc Ky, the Capital Law 2024 has provided specific solutions to create a favorable environment for innovation and science and technology. One of the breakthroughs is Article 25, which allows testing of new technologies, products and business models under special control from state agencies. This is a controlled testing mechanism, helping businesses and organizations to implement innovative ideas for a maximum of 3 years and extend once for no more than 3 years.
In addition, the law also stipulates key science and technology fields that Hanoi will focus on developing, including information and communication technology, biotechnology, new materials, automation, and environmental technology solutions to reduce carbon emissions and respond to climate change. Enterprises operating in these fields will receive support in terms of machinery, equipment, and financial incentives from the city budget, similar to high-tech enterprises.
In particular, the law also creates opportunities for universities, vocational training institutions and public scientific organizations to establish or contribute capital to enterprises to commercialize their research results. This helps connect research and practice, promoting the application of science to life and economic development.
The Capital Law 2024 not only aims to develop science and technology but also inspires creative startups. Startups operating in the field of science and technology will be supported with incubation costs, project selection, and hiring experts. This not only encourages domestic businesses but also attracts international investors to Hanoi.
As Hanoi takes the lead in innovation, the city will become an attractive destination for foreign investment funds and technology enterprises. This is in line with the spirit of Resolution No. 15-NQ/TW of the Politburo, which sets out the direction for Hanoi's development until 2030, with a vision to 2045. Pioneering in the field of science and technology will help the capital strengthen its competitive position and lead regional development trends.
Meanwhile, National Assembly delegate Phan Xuan Dung - Chairman of the Vietnam Union of Science and Technology Associations said that the Capital Law 2024 has many important and specific contents. Especially policies on science and technology development. In order to synchronously develop the fields of science and technology, the Law prioritizes investment resources to build the Capital into a leading center of innovation, digital transformation, research, development, and technology transfer in the country and the region; there are many incentive mechanisms, creating conditions for science and technology development.
Specifically, science and technology organizations receive support from the city budget to purchase and operate machinery and equipment to perform their tasks. Income from the implementation of key science and technology tasks of the capital is not subject to personal income tax. Enterprises, science and technology organizations, state management agencies, and public service units are allowed to receive the transfer without compensation of assets, results, and products formed from science and technology tasks using the city budget.
Enterprises and scientific and technological organizations operating in the city are partially supported by the city budget to establish research and development centers, laboratories, and receive technology transfer in key scientific and technological fields of the capital.
“The 2024 Capital Law has preferential mechanisms for science and technology organizations, especially for the intellectuals of the Capital, to have conditions to develop and contribute to the Capital and the country. Therefore, the passing of the amended Law is of great significance,” emphasized National Assembly delegate Phan Xuan Dung.
Source: https://kinhtedothi.vn/nhieu-chinh-sach-dac-thu-phat-trien-khoa-hoc-cong-nghe-trong-luat-thu-do-2024.html
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