Draft Laws on High Technology and Tech Transfer to Be Discussed by Lawmakers November 6

Lawmakers will discuss draft laws on high technology

Dai Phat Thanh Vietnam – Lawmakers are scheduled to convene on November 6 to deliberate on two significant draft laws that could shape the nation’s technological and economic landscape: the Law on High Technology and the Law on Technology Transfer. Both drafts are part of the government’s ongoing efforts to enhance innovation, strengthen domestic research and development (R&D), and accelerate the country’s transition toward a high-tech, knowledge-based economy.

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Focus on National Innovation and Competitiveness

These measures are designed to foster a dynamic environment where local innovators can compete globally. Deputy Minister of Science and Technology (MoST) officials have emphasized that the law will not only encourage domestic innovation but also strengthen partnerships with foreign technology developers. “We aim to build a balanced ecosystem where both local enterprises and international investors can thrive through fair policies and transparent regulations,” one official noted during a recent pre-session briefing.

Technology Transfer as the Key to Sustainable Growth

Alongside the high-tech draft, the Law on Technology Transfer will be a central topic of discussion. This legislation seeks to modernize the country’s technology import and export mechanisms, ensuring that the transfer of knowledge, patents, and production methods benefits both the economy and local communities. The law will focus on creating a more transparent, efficient, and secure process for technology exchange, particularly between domestic institutions and international partners. Lawmakers are expected to evaluate policies to encourage foreign direct investment (FDI) in high-tech sectors while safeguarding national interests and data security.

Balancing Innovation and Regulation

Experts suggest that striking the right balance between innovation freedom and regulatory oversight will be crucial. Dr. Le Minh Quan, a technology policy researcher, explained, “If the regulations are too strict, they might slow down innovation. But if they’re too loose, we risk exposing our industries to unfair competition or even technological dependence.”

Supporting Local Enterprises and Startups

The proposed laws also place significant emphasis on supporting local startups and small-to-medium enterprises (SMEs). These centers will serve as “innovation bridges,” helping startups commercialize their ideas while accessing advanced technology from abroad. Government representatives have underscored that the inclusion of SMEs is vital to ensuring inclusive growth.

Environmental and Sustainable Considerations

A noteworthy addition to both drafts is the integration of sustainability principles into high-tech development and technology transfer policies. This approach aligns with the country’s long-term commitment to achieve net-zero emissions by 2050.