Legislators scrutinize proposed bill pertaining to science, technology, and innovation.
Rewritten Article:
📸 Snap of the 9th session of the 15th National Assembly - VNA/VNS Photo Doãn Tấn
Hà NỘI — It's Crunch Time! 🤔
The National Assembly (NA) will have a busy Tuesday afternoon discussing the draft Law on Science, Technology, and Innovation (STI) during the 9th session. This new legislation aims to rev up innovation, propel research, and supercharge tech development — key components for Vietnam's national advancement.
With 8 chapters and 85 articles (an extra pair over the 2013 Law on Science and Technology), this draft reflects the integration of innovation-rich content and a revamped structure. 🔄
Among the notable changes, it proposes research institutions to have ownership and self-decision-making power over research outcomes and assets, benefiting both them and the researchers involved. Scientists will get a minimum of 30% of profits from commercialization and even set up businesses using their technology. 💡🚀
The draft law isn't just dishing out policies; it offers incentives galore. This includes personal income tax breaks and rewards for basic research, as well as a profit-sharing mechanism for domestic researchers from commercialized research outcomes. Additionally, it's working on simplifying procedures to lure foreign experts and Vietnamese tech whizzes back home to spearhead major projects, covering gaps many domestic researchers can't bridge. 🌐🎓
Moreover, the law provides guidelines for identifying and retaining top science, tech, and innovation talents. This helps create a clear, enticing framework to attract and keep the best minds. 🏆🔍
NA members will also weigh in on extending the agricultural land use tax exemption period per the draft resolution based on Resolution No 55/2010/QH12-amended and supplemented by Resolutions No 28/2016/QH14 and No 107/2020/QH14, as well as review the legislature's draft resolution on reducing value-added tax. 💰💸
A view of the 9th session of the 15 National Assembly. - VNA/VNS Photo Doãn Tấn
During the morning sessions, NA deputies will stomach a proposal and report on the legislature's draft resolution to replace Resolution No 35/2021/QH15 dating November 13, 2021, regarding piloting specific mechanisms and policies for Hải Phòng city's development. 🏙️
Previously, legislators took a closer look at the draft Law on Management and Investment of State Capital in Enterprises, expending some energy on scrutinizing contentious contents within this document. 🗺️🔍
- The National Assembly (NA) is set to discuss the draft Law on Science, Technology, and Innovation (STI) during their 9th session, aiming to boost innovation, research, and technology development.
- Encompassing 8 chapters and 85 articles, the draft law reintegrates innovation-rich content and updates the structure compared to the 2013 Law on Science and Technology.
- The proposed changes include granting research institutions the power to decide on research outcomes and assets, offering scientists a share of profits from commercialization, and enabling them to establish their own businesses.
- The law offers incentives such as personal income tax breaks, rewards for basic research, a profit-sharing mechanism for domestic researchers, and simplified procedures to attract foreign experts and Vietnamese tech elites.
- In addition, the law includes guidelines for identifying and retaining top science, tech, and innovation talents, creating an attractive and clear framework for the best minds.
- During the morning sessions, the NA will address a proposal and report on the legislature's draft resolution to replace previous resolutions related to Haiphong city's development, as well as review the draft resolution on reducing value-added tax and periods for agricultural land use tax exemption.
