"Bottlenecks" in technology transfer to be removed

The Technology Transfer Law of 2017 has been recognized as a crucial legal framework for facilitating technology transfer activities both domestically and internationally.

However, nearly a decade later, several limitations and inadequacies have been identified during the implementation of the law.

The amended law aims to address these issues by introducing new regulations to meet the practical demands of technology transfer activities.

The draft includes new mechanisms such as temporary technology transfer, allowing enterprises and organizations to receive technology for a certain period to test and evaluate its suitability before official application. 

The draft further supplements various policies to support enterprises in receiving, applying, and innovating technology. 

The process of appraising, approving, and licensing technology transfer has also been adjusted to be clearer, reduce processing time, and ensure consistency with investment, construction, and environmental laws.

At a workshop to gather feedback on the draft law held on November 19, Deputy Minister of Science and Technology Hoang Minh said that this is an important solution to promote technology transaction activities and remove difficulties in bringing technology to the trading floor.

He also noted that the draft clearly stipulates that if technology is contributed as capital to a project using state budget, it must undergo valuation; if not using the state budget, it can be done at market prices, in accordance with the Price Law. The goal of this regulation is to ease difficulties for technology owners, allowing technology to be freely traded.

Regarding valuation, Deputy Minister Minh affirmed that valuation is the determination of asset value according to legal regulations. Circular No. 37 of the Ministry of Finance has fully provided the legal framework for valuation activities and valuation consulting activities.

The Ministry of Science and Technology will absorb feedback and report explanations at the upcoming National Assembly discussion session.