On October 17, 2014, the Government of Vietnam issued the Decree No. 95/2014/NĐ-CP on investment in, and the financial mechanism applicable to, scientific and technological activities.
According to the Decree No. 95/2014/NĐ-CP of Vietnam’s Government, scientific research and technological development results may be purchased when the following conditions are met:
- To-be-purchased scientific research and technological development results are valuable to socio-economic development and national defense and security assurance, and satisfy the clarity, transparency and quantity criteria;
- There are organizations or individuals committing to applying or using scientific research and technological development results;
- Organizations or individuals that undertake to conduct scientific research and technological development accept the appraisal process for research and development contents and funds under current regulations of competent state agencies and commit to raising funds by themselves for performance of scientific and technological tasks.
Competent state agencies shall sign contracts with organizations or individuals, clearly stating the terms on performance time, scientific and technological products, funds for purchase of scientific research and technological development results, form of payment upon receiving scientific research and technological development results from organizations or individuals, and shall form a science and technology council to assess scientific research and technological development results.
Moreover, on the basis of result assessment records of the science and technology council, which assess such results at least as pass, competent state agencies shall pay 100% of the contractual value to purchase scientific research and technological development results of organizations or individuals. In case the scientific research and technological development result is unsatisfactory or cannot be available within the time limit specified in the contract, competent state agencies may refuse payment and liquidate the contract.
Besides, heads of competent state agencies who decide to purchase scientific research and technological development results with state budget funds shall take responsibility for such purchase and use efficiency of the purchased result.
View more details at Decree No. 95/2014/NĐ-CP of Vietnam’s Government, effective from December 01, 2014.
Le Hai
Address: | 19 Nguyen Gia Thieu, Vo Thi Sau Ward, District 3, Ho Chi Minh City |
Phone: | (028) 7302 2286 |
E-mail: | info@lawnet.vn |