Minister of Science and Technology Nguyen Manh Hung emphasized the purpose of enacting the draft Law amending and supplementing certain provisions of the Law on Technology Transfer is to continue perfecting the legal framework to promote effective and appropriate technology transfer activities, while keeping pace with global trends.
Speaking at the 10th session of the 15th National Assembly on October 31, Mr. Hung said the law also aims to foster innovation and endogenous technology transfer, facilitating the flow of technology among domestic enterprises, organizations, individuals, and between universities, research institutions, and businesses.
Additionally, it seeks to develop an efficient, transparent, and professional science and technology market, creating a favorable environment for technology transactions and intellectual property, contributing to enhancing productivity, quality, and competitiveness of the economy.
He highlighted that the Law's construction perspective is to consider enterprises as the center of application, transfer, and innovation of technology, promoting the development of the domestic science and technology market; preventing the import of outdated technology, and mastering advanced global technology suitable for Vietnam's conditions.
The Law also creates financial, institutional, and legal incentives for technology transfer activities. It allows expenses for technology transfer to be deductible when determining corporate taxable income. Priority is given to promoting technology transfer for high technology, strategic technology, and disseminating technology to small and medium enterprises, cooperatives, business households, and individual businesses.
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