Principles for handling financial risks when performing innovation tasks

Legal Consulting Office of Lao Dong Newspaper answers:

Clause 1, Article 18 of Decree 77/2026/ND-CP Regulating the organization and operation of the National Technology Innovation Fund (effective from March 17, 2026), stipulates the principles of risk handling as follows:

a) Acceptance of risks in the Fund's activities is carried out in accordance with the provisions of law on science, technology and innovation and other relevant laws;

b) Ensure clarity, transparency, and verification records;

c) Having opinions from independent experts or consulting organizations (when necessary);

d) Enterprises and organizations performing tasks are excluded from administrative responsibility and exempted from civil liability for damage caused to the State when they have fully complied with regulations and procedures for task implementation and do not have acts of fraud, intentional violation of the law, using funds for the wrong purpose or scope. Organizations, Funds and individuals approving and managing tasks are exempted from administrative responsibility and civil liability when they properly implement regulations and procedures for approving and managing tasks and do not have acts of violating the law.

Thus, from March 17, 2026, the principle of handling financial risks when performing innovation tasks is stipulated as above.