Strong investment in science and technology: A key role in modern production (Part 2)

With capital from the S&T development fund and loans, Vietnam Coal – Mineral Industry Group has invested heavily in research agencies, a number of experimental workshops, testing and testing factories; completing and transferring technology to production and business; completed 8 projects of infrastructure investment of research institutes and a trial production project at Sin Quyen Cai Copper Mine branch.

In order to enhance research capacity and create competitiveness in the market, Industrial Machinery and Equipment Corporation has also invested in building new facilities, technological innovation, purchasing production equipment imported from the country. In addition, it helps to improve product quality to promote business performance.

With Saigon Beer – Alcohol – Beverage Joint Stock Corporation, there are currently 24 production plants with modern, automated, synchronized equipment and certified with a Quality Management System. hygiene and food safety and environment according to ISO 9001, HACCP/ISO 22000 and ISO 1400, etc. These are evidences showing that Industrial and Commercial enterprises are increasingly interested in S&T investment activities.

In the context that Vietnam promotes the implementation of free trade agreements and development trends, applying rapidly new S&T achievements, the application of S&T is an important factor to help businesses improve production capacity and competitiveness.

Key role in modern production

The S&T Development Strategy for the period of 2011-2020 affirms that Vietnam is determined to consider S&T as the foundation for the country’s sustainable development; regulating the increase in S&T investment to 1.5% of GDP by 2015 and over 2% by 2020. The Law on Technology Transfer and the Law on High Technology also set the legal framework for investor participation. Foreign investment in high-tech activities, from processing and manufacturing to education and training.

In Decision No. 677/QD-TTg approving the National Technology Innovation Program up to 2020, there are targets: The number of enterprises (enterprises) implementing technology innovation increases on average 15%/year, in 5% of enterprises apply high technology; 100% of enterprises that produce key products, key products, national products master and create advanced technology for production; 80.000 engineers, technicians, managers of small and medium enterprises are trained in technology management, technology management and new technology updates.

The Law on Science and Technology 2013 stipulates financial support from the state budget to carry out S&T activities. Enterprises can receive financial support of up to 30% of the total investment capital if they implement projects that apply scientific results to create new products or to increase productivity, product quality and competitiveness. This activity can also be supported with up to 50% of investment capital for projects implemented in difficult socio-economic regions or supporting 50% of investment capital for projects performing national S&T tasks in priority and key fields of the state.

In addition, the National Technology Innovation Fund was established under the Prime Minister’s Decision No. 1342 / QD-TTg. The Fund has a charter capital of VND 1,000 billion from the state budget, focusing on concessional loans, loan interest rate support, loan guarantee, capital support for organizations, individuals and enterprises to conduct research. technology transfer, innovation and perfection; program of seeking and transferring foreign technologies by 2020, aiming to establish a global network of experts to search for advanced technologies and transfer applied in Vietnam.

In addition, businesses established under Vietnamese law and decided to use equity for technology innovation and transfer benefit from a maximum deduction of up to 10% of taxable income to make Science and Technology Development Fund (Article 17, Law on Enterprise Income Tax).

With these policies, S&T has affirmed its key role in developing modern production, improving productivity, quality, efficiency, development speed and competitiveness of the economy.

Productivity and Quality Office