Vietnam Intensifies Science and Technology Fund Utilization Efforts

Post by : Shakul

Vietnam is ramping up initiatives to enhance the disbursement rates of science and technology funds, following reports indicating that spending has lagged well behind the national average in the early months of 2026.

In Hanoi, Deputy Prime Minister Ho Quoc Dung hosted a significant conference aimed at tackling financial barriers and accelerating public investments in science, technology, innovation, and digital transitions. The event gathered ministers, government officials, and local representatives to collaborate on this vital matter.

According to officials, the disbursement for science and technology investments has only reached approximately 14.78 percent in 2026, considerably lower than the national average exceeding 21 percent. The government emphasized the urgency of treating this issue as a national priority.

Ho Quoc Dung instructed relevant ministries, sectors, and local governments to effectively address all existing challenges by June 2026, aiming for a complete disbursement by year's end. He pointed out that science, innovation, and digital advancements are fundamental to Vietnam's economic growth and global competitiveness moving forward.

Minister of Science and Technology Vu Hai Quan noted that a solid legal framework is already in place to promote science and technology funding. The planned funding for 2026 exceeds 103 trillion Vietnamese dong, which includes significant allocations for digital infrastructures, databases, and innovation-centric projects.

Despite substantial funding provisions, several regions reported obstacles arising from procurement processes, investment approvals, unclear technical guidelines, and delays in digitizing infrastructures. Specific provinces also face hurdles in executing advanced initiatives focused on artificial intelligence, big data, and digital data repositories.

The conference highlighted that Ho Chi Minh City and Hanoi are leading the nation in technology fund disbursement rates, with Ho Chi Minh City achieving over 32 percent and Hanoi close to 28 percent.

The Deputy Prime Minister underscored the necessity for future investments to prioritize strategic technologies, national databases, AI systems, and sophisticated research facilities capable of producing quantifiable economic and technological benefits. He cautioned against fragmented spending initiatives and called for enhanced accountability from ministries and local authorities.

The Vietnamese government reiterated its commitment to refining regulations and fiscal mechanisms to ensure that investments in science and technology directly support national development objectives, digital shifts, and long-term economic modernization.

#World News #Vietnam #Technology #Policy