Principles of funding the Intellectual Property Development Program in Vietnam to 2030

Bao Ngoc

08:44, 25/09/2021

Recently, the Ministry of Finance of Vietnam promulgated Circular 75/2021/TT-BTC dated September 9, 2021 provides for financial management of the implementation of the Intellectual Property Development Program to 2030.

According to this Circular, the Vietnamese State budget provides funding based on the approved tasks under the following principles:

- For state management agencies, political organizations and socio-political organizations, public non-business units whose recurrent expenditures are guaranteed by the state budget: The state budget will support 100 % of the budget for performing tasks;

- For public service providers covering part of their recurrent expenditures by themselves: The state budget shall support part of the funding on the basis of the unit's ability to collect (the maximum state budget support rate must not exceed 70% of the total cost estimate for the implementation of the task);

- For public service providers self-financing recurrent expenditures and investment expenditures, public service providers self-finance recurrent expenditures; public service providers, enterprises and other organizations: The state budget shall support up to 50% of the total cost estimate for the performance of tasks.

Circular 75/2021/TT-BTC of Vietnam takes effect from October 25, 2021.

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