Hanoi, Feb. 10 -- Vietnam's system of State-run funds for science, technology and innovation is now backed by a clearer legal framework and is gradually being rolled out, with expectations of fundamentally reshaping how the State commissions, finances and supports scientific and technological activities, moving away from the earlier model of scattered budget allocations.

Building a multi-tier fund structure

Resolution No. 57-NQ/TW of the Politburo defines fund-based mechanisms as the core financial tool for advancing science, technology and innovation. Under the resolution, State budget funding for research and development is prioritised for allocation through funds, alongside reforms in financial management, expanded autonomy, streamli...