What is the task of the National Technology Innovation Fund?

Legal Consulting Office of Lao Dong Newspaper answers:

Article 6 of Decree 77/2026/ND-CP Regulating the organization and operation of the National Technology Innovation Fund (effective from March 17, 2026), stipulates the tasks of the Fund as follows:

1. Receiving and managing financial resources:

a) Receiving funds from the state budget, voluntary contributions, donations, and legal donations of domestic and foreign businesses, organizations, and individuals;

b) Manage and use sources outside the state budget according to agreements with contributors (if any) and according to regulations on funding, ordering, support and internal spending regulations of the Fund.

2. Deploy sponsorship, ordering, and support activities:

a) Announcing priority orientations, requirements, contents and guidelines for proposing sponsorship, ordering, and support;

b) Receiving, reviewing dossiers, and announcing results;

c) The Fund manages innovation programs and tasks as prescribed by the Minister of Science and Technology. The Fund supports, orders, and sponsors all or part of the non-refundable funds for the contents specified in Article 5 of this Decree. The Fund Director approves the tasks and support activities directly sponsored, ordered, and supported by the Fund;

d) Inspect and supervise the progress, professional quality and efficiency of using funds.

3. Performing administrative and organizational tasks:

a) Resolve complaints, denunciations, and petitions in accordance with the law;

b) Managing finances, assets and other resources assigned according to the provisions of law and the decentralization of the Minister;

c) Cooperation at home and abroad on activities related to the functions and tasks of the Fund;

d) Management of organizational structure, public employees, and laborers; implementation of policies and regimes for public employees and laborers under the management scope of the Fund.

4. Perform other tasks assigned by the Minister of Science and Technology.

Thus, from March 17, 2026, the National Technology Innovation Fund has tasks according to the above regulations.