Vietnam: Sources to form a science and technology development fund

According to the Decree No. 95/2014/NĐ-CP of Vietnam’s Government, the science and technology development fund of a ministry, ministerial-level agency or government-attached agency is a non-business unit set up by the minister, head of the ministerial-level or head of the government-attached agency. The science and technology development fund of a province or centrally run city is a non-business unit set up by the chairperson of the People’s Committee of the province or central-affiliated city.

A fund shall be formed from the following sources:

- Capital initially granted from the state budget fund for science and technology development of the ministry, ministerial-level agency, government-attached agency, province or central-affiliated city;

- Additional capital annually allocated from the state budget for ministerial- or provincial-level scientific and technological tasks;

- Revenues from the fund’s operations;

- Amounts voluntarily transferred from or entrusted by science and technology development funds of enterprises;

- Amounts entrusted by science and technology development funds of other ministries, ministerial-level agencies, government-attached agencies, provinces and central-affiliated cities;

- Amounts voluntarily contributed, donated, presented or entrusted by organizations, enterprises and individuals and other lawful sources.

The charters of science and technology development funds of ministries, ministerial- level agencies, government-attached agencies, provinces and central-affiliated cities shall be formulated after the model charter promulgated by the Minister of Science and Technology, and approved by ministers, heads of ministerial-level agencies, heads of government-attached agencies or chairpersons of provincial-level People’s Committees.

View more details at Decree No. 95/2014/NĐ-CP of Vietnam’s Government, effective from December 01, 2014.

Le Hai

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