Amendment of the Law on High Technology: Opportunities for domestic enterprises

The Ministry of Science and Technology's leadership in drafting the Draft Law on High Technology (amended) aims to bring policies on high technology, R&D and innovation into a tight legal framework, updated with the rapid development of digital technology and global value chains. The draft clearly states the scope of regulation related to high technology activities, incentive policies, incentives and rights and obligations of relevant organizations and individuals. These contents open up many practical opportunities for domestic enterprises.

Support R&D: reduce costs, encourage long-term investment

A highlight that has received much attention is the policy framework to encourage investment in research and development (R&D). The draft proposes direct support mechanisms for research, testing, and the establishment of key laboratories; at the same time, it proposes indirect financial mechanisms such as super tax deductions for R&D costs, a tool that has been used by many economies to stimulate businesses to increase spending on inventions and technology improvement. If specified and fully guided, this regulation will significantly reduce the cost burden for businesses when investing in long-term research, helping them boldly implement high-risk but high-value innovation projects.

With such a mechanism, domestic enterprises have an advantage in retaining high-quality human resources, building internal R&D teams, and establishing international partnerships for research. Support for key laboratories and testing costs also contributes to shortening the "distance" from research topics to commercial products.

Encourage technology transfer and commercialization

The draft emphasizes the development of an ecosystem connecting businesses, institutes and schools, investment funds and incubators, considering high-tech zones as "nodes" of the innovation value chain. The law is expected to specify more clearly the mechanisms to promote technology transfer, support the commercialization of inventions and innovative products, thereby creating a convenient legal corridor for domestic enterprises to buy, lease, receive transfers or own valuable research results.

The policy of encouraging transfer not only helps enterprises access high technology faster but also creates opportunities for Vietnamese enterprises to become "transferors" when they master key technology, can sell copyrights, franchise or cooperate in production with domestic and foreign partners. This contributes to increasing domestic added value and reducing technology dependence.

Increase access to infrastructure, resources and markets

The draft mentions the role of high-tech zones as ecological spaces including research infrastructure, testing centers, and zones for deploying high-tech production models. The legalization and standardization of establishment criteria and incentive mechanisms for these zones help small and medium-sized technology enterprises (SMEs) easily access shared infrastructure from factories and laboratories to intellectual property protection services and management support.

As businesses gain faster access to specialized facilities and services, input costs are reduced, R&D, production and commercialization cycles are shortened, helping them increase their competitiveness in domestic and export markets.

Corporations and enterprises that have made large investments in R&D and technology infrastructure are ready to take advantage of the new Law. For example, Viettel has just announced its investment in a large-scale R&D center in Hoa Lac High-Tech Park, a project that can benefit when the incentive mechanism and incentives for R&D and infrastructure are clearly legalized.

FPT has set up a chip and high-tech R&D center in Da Nang, and invested in AI and data center projects. Enterprises with R&D capabilities will directly benefit from super deductions, laboratory support and commercialization mechanisms.

Vingroup Corporation and the VinTech/VinBigData ecosystem have invested heavily in AI, robotics and data technology. When the legal framework is favorable, these R&D assets can be exploited more effectively under the transfer mechanism, public-private partnership and attracting strategic partners.

Phenikaa is an example of a university-enterprise ecosystem by building research institutes, application centers, and having many technology startup initiatives; The new law helps organizations like Phenikaa access resources, support funds, and commercialization mechanisms.

The revised Law on High Technology will create opportunities for domestic enterprises.

Not only focusing on large corporations, R&D support mechanisms, key laboratories, and incentives for operating in high-tech zones will create conditions for startups and small and medium-sized enterprises to participate more deeply in the technology supply chain. When domestic enterprises are encouraged to produce components, core materials, and participate in the value chain, the domestic high-tech industry will gradually form depth and connectivity.

If the draft Law on High Technology (amended) is passed with provisions on R&D super deduction, infrastructure support, high-tech zone criteria and transparent transfer mechanism, it will be a strong lever for domestic enterprises to enhance their innovation capacity. However, the final effectiveness depends on detailed regulations, implementation guidelines, and monitoring mechanisms to ensure incentives are accompanied by transparent responsibilities, effective evaluation and no loopholes for policy exploitation.

Center for Science and Technology Communication

Source: https://mst.gov.vn/sua-doi-luat-cong-nghe-cao-co-hoi-cho-doanh-nghiep-trong-nuoc-197251012134757043.htm