NA deputies discuss a draft law on science, technology, and innovation on May 6, 2025 (Photo:VOV)

Speaking during a National Assembly discussion on the draft legislation, he said the Party, State, and National Assembly attach special importance to the development of science and technology, as reflected in the Politburo’s Resolution 57 on science and technology, innovation and digital transformation.

“Vietnam’s R&D investment, at just 0.44% of GDP, is low compared to regional countries. The law must offer robust tax incentives, such as income tax exemptions or reductions for commercialized research products, and more flexible financial mechanisms, including venture capital and seed funding for startups. It is essential to remove hurdles to help sci-tech businesses thrive and to better align research with market needs,” said the top legislator.