Nature, Purpose, and Organizational Principles of the Science and Technology Development Fund in Vietnam

Nature, Purpose, and Organizational Principles of the Science and Technology Development Fund in Vietnam

The model charter issued together with Circular 03/2015/TT-BKHCN stipulates the nature and purpose of the activities of the Science and Technology Development Fund and the principles of organizing the activities of the Fund in Vietnam as follows:

Nature and Purpose of Activities

- The Fund operates with the purpose of funding, providing finances, lending, guaranteeing loans, and supporting the enhancement of national science and technology capabilities;

- The Fund's activities aim to support and promote the development of science and technology to serve the economic-social development of ministries or provinces.

Principles of Organizing the Fund's Activities

1. The management and executive apparatus of the Fund includes the Fund Management Council, the Supervisory Board, and the Fund's Executive Agency.
2. Scientific and technological tasks proposed by organizations and individuals for sponsorship, loans, loan guarantees, and activities to enhance scientific and technological capacities are selected openly, democratically, and equally.
3. The Fund operates under the financial mechanisms applied to public service providers that collect revenues, with parts of its regular operating costs ensured by the state budget, with independent accounting, not for profit purposes; according to the Charter approved by the competent state authority and other relevant legal regulations.
4. The Fund conducts all revenues and expenditures publicly, transparently, and for the correct purpose of scientific and technological activities as stipulated by law.

More details can be found in Circular 03/2015/TT-BKHCN which comes into force in Vietnam from April 23, 2015.

Ty Na

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