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Vietnam Today

Decree on support industry development issued

Released at: 14:54, 06/11/2015

Decree on support industry development issued

Assistance and funding available for research and development of products on priority list.

by Hoai An

The government has recently issued Decree No. 111/2015/ND-CP on the development of support industries in the country.

Individuals and organizations conducting production research and developing products on the priority list of support industry products can access assistance, funds, and other sources for research, development, and training.

They will also be considered for partial assistance in the cost of research and development from a development program for the support industry for independently-developed technology that results in effective application. The government also commits to providing 50 per cent of funding for pilot production projects in support industries.

Organizations and individuals that conduct technology transfer in producing support products on the priority list will receive incentives on technology. Projects with cooperation between manufacturing enterprises and those transferring technology will receive partial financial assistance. The cost of manufacturing a prototype product on the priority list will also receive assistance of up to 50 per cent.

The government will also cover up to 75 per cent of the cost of technology transfer for projects using more than 85 per cent of raw materials from domestic minerals processing, including metallic ores, non-metallic ores, and petroleum products.

The decree also states that projects producing industrial products on the list of products for support industry development will be funded from industrial development programs to assist in the training of human resources.

Projects on the priority list can also receive assistance from the government in training programs. Individuals responsible for the development program for support industries will be trained in Vietnam or a foreign country under the training program of the government.

Products on the priority list will also have priority in appearing in trade promotion programs. The government will partially cover the costs of registering trademarks, attending domestic and foreign exhibitions, and accessing market information, as well as other costs.

The Decree takes effect from January 1, 2016.

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