Vietnam: The state budget shall support 100% of funds for implementation of scientific researches

According to Clause 3 Article 13 of the Decree No. 40/2017/NĐ-CP of Vietnam’s Government, for scientific research and technological development:

- The state budget shall support 100% of funds for implementation of scientific researches; 50% of total funds for necessary investments serving the implementation of trial salt production or processing projects and 70% of total funds for necessary investments serving the implementation of trial salt production or processing projects in areas with difficult socio-economic conditions;

- To prioritize and consider providing support at the highest level from the National Fund for Science and Technology Development, the National Fund for Technology Renewal, and Science and Technology Development Funds of ministries, sectors, provinces and centrally run cities for implementation of scientific and technological tasks;

- To encourage the application of the public-private partnership model and use of clean technologies in conformity with international standards in salt production and trading according to value chains. Funding sources and mechanisms of support provision must comply with current regulations.

Besides, investors in salt storage warehouses, salt production machinery and equipment or salt processing and equipment lines are entitled to support for:

- 100% of loan interest in the first two years and 50% of loan interest in the third year on maximum loans equaling the value of investment in salt production equipment;

- The difference between the interest rate of state development investment credit and the interest rate of Vietnam-dong medium- and long-term commercial loans borrowed to implement investment projects on salt processing lines and equipment for maximum loans equaling 70% of the projects’ value for a term not exceeding 12 years;

- Funding sources and mechanisms of support provision must comply with the Government’s regulations on support policies to reduce loss in agriculture.

View more details at the Decree No. 40/2017/NĐ-CP of Vietnam’s Government, effective from May 20, 2017.

Ty Na

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