Accepting risks in developing science and technology

The Resolution clearly states that public science and technology organizations and public higher education institutions are established, participate in establishing enterprises, contribute capital to enterprises to commercialize the results of scientific research and technology development owned by or assigned to manage and use by those organizations.

When approved by the head of the organization, civil servants, and managers working at public science and technology organizations, public higher education institutions are allowed to participate in capital contribution, participate in business management and operation, work at enterprises established by that organization or participate in the establishment of such an organization to commercialize research results created by that organization.

In case the management official is the head of a public science and technology organization or public higher education institution, he/she must have the consent of the person directly managing the organization.

Article 4 of the Resolution clearly states that organizations and individuals engaged in scientific research and development of science and technology are exempted from civil liability when causing damage to the State in the process of performing scientific and technological tasks using the state budget when they have fully implemented relevant processes and regulations in the process of implementing scientific research and development of technology.

The organization in charge of implementing the task of science and technology using the state budget during the implementation process has fully implemented the regulations on management of science and technology tasks, the research process and content have been explained but if the results are not as expected, it will not have to completely refund the spent funds.

The Resolution states the priority of funding from the state budget to implement science and technology tasks according to the fund mechanism through science and technology development funds. Establishing estimates and allocating funds from the state budget according to the fund mechanism.

The State's science and technology development funds are established in accordance with the provisions of the Law on Science and Technology.

Science and technology development funds must be periodically assessed for their operational effectiveness in accordance with the strategy and plan for science and technology development...

Regarding tax incentives for businesses and individuals operating in science and technology, business subsidies for scientific research, technology development and innovation, expenditures for scientific research, technology development and innovation in businesses are included in the expenses deducted from determining income subject to corporate income tax.

Income from salaries and wages from performing scientific and technological tasks using the state budget is income not subject to personal income tax.

This Resolution takes effect from February 19, 2025.