What are criteria for scientific and technological project creating new products and services in Vietnam?

What are criteria for scientific and technological project creating new products and services in Vietnam? (Illustration)

According to Article 5 of Circular 06/2014/TT-BKHCN, projects in science and technology creating new products and services in Vietnam must meet the following requirements:

- Have a feasible research report, a clear production and business plan, especially ensuring that the product holds a certain market share in the domestic and international markets or creates a new market;

- Have marketing strategies and capacity; project management, financial management capabilities; investment plans to enhance scientific and technological capacity, and capacity for joint ventures and partnerships with partners in training, research, and technology development;

- The project implementation contributes to a minimum increase of 10% in the added value of the product;

- The added value of the product must be higher than the added value statistics provided by the General Statistics Office for similar products or product groups (if any);

- The project’s quality management system must meet national standards and international standards according to each specific field;

- Ensure clear and reasonable financial mobilization and use of capital.

Note: In special cases, due to the requirements of projects related to epidemics, natural disasters, social security, projects in particularly difficult rural and mountainous areas, the Fund Management Council shall submit to the Minister of Science and Technology of Vietnam for decision on the minimum added value and the added value increase for each product and service of the project.

More details can be found in Circular 06/2014/TT-BKHCN, which comes into force in Vietnam from June 9, 2014.

Ty Na

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