Science, Technology and Innovation Spending Increased in Vietnam

A new decree regarding the management, budgeting, and utilization of science, technology, and innovation activities has entered into force in Vietnam. With the new regulation, financial conditions for research tasks were improved, while project leader wages, conference payments, administrative expenses, and various support limits for businesses were increased.

According to the new wage schedule, the maximum monthly wage for a project leader was raised to 49 million VND with an increase of 23 million VND. The per-session fee for conference secretaries was set at 500,000 VND, the presentation fee for speakers at 3 million VND, and it was decided that a payment of 2 million VND will be made for commissioned reports prepared without being presented at conferences.

The ceiling price for general administrative expenses was raised to 400 million VND per task or 5% of the total budget. Additionally, it was reported that units participating in innovation festivals and new technology promotions will be provided with a support of 10 million VND, and innovative businesses and startups will receive an annual space rental support of 20 million VND for an incubator and 5 million VND per month for a duration of 3 years.