On July 10 in Hanoi, the Ministry of Science and Technology held a session workshop to assemble suggestions on a proposed mortgage interest assist program administered via the National Technology Innovation Fund (NATIF).
Under the proposal, corporations investing in technology utility, technology switch, technological upgrading and innovation could be eligible for authorities assist overlaying half of the interest payable beneath their credit score agreements, with the subsidy capped at 6% yearly for a most of 5 years.
The ministry plans to launch the coverage as a pilot program involving 20 enterprises earlier than evaluating its effectiveness and contemplating wider implementation.
Businesses on the middle of the innovation ecosystem
Opening the workshop, Minister of Science and Technology Vu Hai Quan mentioned Resolution 57 identifies science, technology, innovation and digital transformation as key drivers of Vietnam’s new financial development mannequin.
Achieving these targets, he mentioned, requires coordinated efforts starting from analysis and growth of core and strategic applied sciences to innovation infrastructure, expertise growth and coverage reforms that assist companies.
The minister emphasised that enterprises ought to stay on the coronary heart of Vietnam’s innovation ecosystem, with insurance policies designed round their real-world wants.
The authorities’s position, he mentioned, is to create favorable circumstances by establishing supportive mechanisms and shared infrastructure that cut back funding prices whereas strengthening enterprise competitiveness.
According to Vu Hai Quan, the proposed NATIF interest subsidy program is meant to encourage businesses- not solely licensed science and technology enterprises however any firm investing in new applied sciences – to undertake, switch and develop superior applied sciences whereas enhancing productiveness.
Market-oriented assist mechanism
Presenting the proposal, Bui Quang Minh, Director of the National Technology Innovation Fund, mentioned the coverage has been designed based on market rules.
Commercial banks would stay accountable for evaluating mortgage purposes, approving financing and managing credit score danger in accordance with present laws, whereas the federal government would subsidize a part of the interest price to encourage technology funding.
The mechanism is anticipated to create a leverage impact by mobilizing non-public credit score whereas enhancing the effectivity of public spending on science, technology, innovation and digital transformation.
Eligibility and pilot implementation
Under the proposal, companies enterprise projects involving technology utility, technology switch, technological upgrading or innovation could be eligible for assist if their projects reveal technical feasibility, financial and social advantages, improved productiveness, stronger competitiveness and compliance with related legal guidelines.
Priority could be given to projects utilizing applied sciences listed in Vietnam’s catalog of inspired technology transfers, excessive applied sciences prioritized for growth and strategic applied sciences.
The program additionally goals to assist projects able to producing excessive added worth and producing broader financial spillover results.
The proposed subsidy would cowl 50% of the mortgage interest specified within the credit score settlement, topic to a most assist charge of 6% per 12 months for not more than 5 years.
To check the practicality of the mechanism and the coordination course of amongst NATIF, monetary establishments and taking part companies, the ministry plans to pilot this system with 20 enterprises.
The pilot part is anticipated to run via September 2026, after which the outcomes can be reviewed earlier than any broader rollout.
Feedback to refine the coverage
Participants on the workshop centered on a number of key points, together with the anticipated demand for and impression of the coverage, eligibility standards, potential implementation dangers and danger administration measures, in addition to coordination procedures between NATIF, banks and taking part companies.
The Ministry of Science and Technology mentioned suggestions gathered in the course of the session course of can be used to refine the mechanism, making certain that any future mortgage interest assist program is applied transparently, reaches the supposed beneficiaries and successfully encourages companies to spend money on technology innovation, enhance productiveness, strengthen competitiveness and improve technological self-reliance.
Thai Khang