What are the powers of the National Technology Innovation Fund?

Legal Consulting Office of Lao Dong Newspaper answers:

Article 7 of Decree 77/2026/ND-CP Regulating the organization and operation of the National Technology Innovation Fund (effective from March 17, 2026), stipulates the rights of the Fund as follows:

1. Organize the implementation of sponsorship, ordering, and support activities of the Fund in accordance with the objectives and scope of activities assigned based on priority orientations, legal regulations and approved budget plans.

2. Signing contracts, cooperation agreements, hiring organizations, experts, scientists and other individuals to support the Fund's management activities.

3. Being allowed to adjust the content, temporarily suspend, suspend or terminate sponsorship, ordering, and support in case of violations are detected.

4. Being refused sponsorship, ordering, and support if the dossier does not meet the requirements, violates the criteria and conditions according to regulations and the Fund's notice.

5. Implement cooperation activities, professional and technical support in science, technology and innovation with domestic and foreign businesses, organizations, and individuals according to agreements in accordance with the functions and tasks of the Fund.

6. Be organized to inspect the compliance with conditions, regulations, procedures and the use of funds for organizations and individuals sponsored, ordered, and supported by the Fund from the time of proposing the task; in case of detecting signs of violations, the Fund shall consider and handle them according to the provisions of law. Relevant organizations and individuals are responsible for providing complete and timely dossiers and documents to serve the inspection work as required by the Fund.

7. Promulgate regulations to manage and implement activities according to the functions of the Fund.

8. To exercise other powers according to the provisions of law.

Thus, from March 17, 2026, the National Technology Innovation Fund has the powers as prescribed above.