The Draft Revised Capital Law: Creating Special Mechanisms for Science and Technology
Thu Hằng - Hà Nội mới
The draft revised Capital Law, expected to be passed by the National Assembly soon, will create a legal foundation and an important premise for implementing solutions, mechanisms, and policies to effectively leverage, mobilize, and utilize resources for the construction and development of the Capital in the future.
A reporter from Hà Nội Mới newspaper had a conversation with Assoc. Prof. Dr. Nguyễn Anh Tuấn, Chairman of the University Council of Hanoi Metropolitan University, regarding the changes in the draft law in the field of science, technology, and innovation.
Research and production of hand sanitizer gel at the laboratory of Hanoi Metropolitan University. Photo: Ngọc Hinh
— In the field of science, technology, and innovation, what impact do you think the revised Capital Law will have, sir?
— The amendment of the Capital Law aims to create special mechanisms and breakthroughs in developing human resources, helping the Capital grow strongly in the coming time. In the field of science, technology, and innovation, the provisions in the revised Capital Law will also serve as a legal corridor to remove current obstacles and difficulties, enabling science, technology, and innovation to make significant breakthroughs and develop rapidly.
— Could you please share more specifically about the fundamental changes in the draft revised Capital Law related to the development of science, technology, and innovation?
— In the draft revised Capital Law, there are four main provisions related to this field:
- Outstanding mechanisms and policies concerning science and technology activities;
- Special policies for venture capital investment using the city’s budget;
- Controlled experimental mechanisms (sandbox models); and
- Special mechanisms for Hòa Lạc Hi-Tech Park and other hi-tech parks within the city.
Accordingly, the draft revised law will address difficulties and obstacles related to handling assets that are results of scientific and technological tasks funded by the state budget. This is a positive sign, making it easier for scientific and technological outcomes to be applied in practice than currently.
Procurement and investment in the field of science and technology will also be reformed. While current regulations require open bidding, the draft revised law allows the lead unit to decide on procurement and hiring methods themselves. This will help leading units and project leaders be more proactive, reduce time delays, and most importantly, allow scientists to focus on their professional work.
Regarding innovation support mechanisms, the draft revised law proposes establishing a state-controlled venture capital fund. I believe this is a breakthrough, because while current laws prohibit state budget spending in ways that may lead to losses, the draft law’s acceptance of certain risks will create strong motivation and drive innovation.
For Hòa Lạc Hi-Tech Park and other hi-tech zones in the city, the draft law focuses on decentralizing power to their management boards. This will speed up and facilitate activities such as investor attraction, investment preparation, and implementation, creating momentum for hi-tech zones to develop according to strategic directions.
One particularly important point in the draft revised law is that it allows public universities, research institutes, and public science and technology organizations to establish enterprises, and faculty members and researchers can become owners of these enterprises. This will help scientific research results from universities and institutes be applied in real life more quickly, serving the development goals of both the Capital and the country.
— Once the draft revised Capital Law is passed, what opportunities will open up for Hanoi Metropolitan University?
— Previously, under existing principles, Hanoi could not use its budget to support institutions outside the city’s administrative structure.
The draft revised Capital Law proposes allowing the city to use its budget to support universities, research institutes, enterprises, and science and technology organizations in establishing key laboratories or research and development centers. This will enable Hanoi to tap into high-quality human resources in its area.
Once the revised Capital Law is passed and comes into effect, to promote the role and advantages of a university under the city’s administration, we will advise and propose to the city a plan to establish research centers and strong research groups at our university. Based on the law’s special and advanced policies, the university will have the opportunity to gather experts and scientists from inside and outside the country, develop key priority research areas of the city, helping the university grow further and become a reputable and well-known institution.
— Thank you very much!
