New financing mechanisms for science, technology, and innovation implemented in Lao Cai province
The regulation, implemented to support research and innovation activities throughout the province, aims to use budget resources more effectively.
The new Resolution No. 27/2026/NQ-HĐND improving financing mechanisms for science, technology, and innovation activities in Lao Cai province has officially taken effect.
A New Era in Financing and Resource Allocation
Lao Cai continues to improve financing mechanisms for science, technology, and innovation, ranging from research to the creation of new products and processes. The new resolution issued by the Provincial People's Council provides an additional basis for allocating resources more closely to every stage of production.
Effective Date and Scope of the Resolution
Adopted and taking effect in August 2026, this regulation governs how state budget funds in the province will be used for the management and support of science, technology, and innovation activities.
Budget Increase and Supported Activities
With the new resolution, the total budget allocated to science and technology in Lao Cai is projected to increase to 64.51 billion VND. The policy is expanded to cover research tasks as well as management activities, programs, and initiatives that support innovation.
Contribution to Socio-Economic Development
This newly implemented mechanism aims to facilitate the closer integration of conducted research with production and commerce, thereby providing a significant boost to the overall socio-economic development in the region.