Vietnam: 08 criteria for projects on new and advanced technology research and development

Vietnam: 08 criteria for projects on new and advanced technology research and development (Illustration)

Under Circular 06/2014/TT-BKHCN, 08 criteria for projects on new and advanced technology research and development in Vietnam are specified as follows:

1. There is a feasible study report, clear production, and business plan, especially ensuring the product occupies a certain proportion in the domestic and foreign markets or creates a new market;
2. There are strategies and capabilities in marketing; project management, and financial management capacities; investment plans to enhance scientific and technological capabilities, joint venture and association capacities with partners in training, research, and technology development;
3. The project execution contributes to an increase of at least 10% in the added value of the product;
4. The added value of the product must be higher than the statistical added value of similar products or product groups by the General Statistics Office (if any);
5. The project's quality management system must meet national standards, international standards according to each specialty;
6. Finance, mobilization, and use of capital are clear and reasonable.

7. There is the force and equipment to serve research and technology development.

8. For high-tech research and development projects of the enterprise in charge, there must be a commitment to invest, on average, in 3 consecutive years using the enterprise's own funds for research and development in Vietnam and reach at least 1% of the project's annual total revenue, and above 1% of the project's total revenue from the fourth year onward.

Details can be found at Circular 06/2014/TT-BKHCN which takes effect from June 9, 2014.

Ty Na

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