Mechanism needed to encourage investment in sci-tech sector: top legislator

National Assembly (NA) Chairman Vuong Dinh Hue has emphasised the need to build mechanisms and policies to encourage firms’ investment in science and technology and promote the connection with domestic and foreign sci-tech research organisations and overseas investors.
NA Chairman Vuong Dinh Hue speaks at the session. (Photo: NDO)
NA Chairman Vuong Dinh Hue speaks at the session. (Photo: NDO)

The top legislator made his recommendation while concluding the June 7 question-and-answer session on sci-tech matters of the ongoing 15th National Assembly’s fifth sitting in Hanoi.

In his conclusion, Hue said of 92 deputies registered to question Minister of Science and Technology Huynh Thanh Dat, 32 delivered their queries within the course of the session.

The NA Chairman asked the Government, Minister Dat, and other ministers involved to take into account comments of the deputies and drastically carry out measures to tackle the sector’s existing shortcomings.

According to Hue, the measures include the effective implementation of the strategy for sci-tech and innovation development by 2030 and of the national science and technology programmes by 2030.

It is also necessary to review and tackle barriers in terms of the legal system, economic, financial and investment policies, and administrative procedure, making them more suitable to the market mechanism, international practices, and the specificity of creative labour, he noted.

Hue elaborated that solutions are needed to make universities really become the centre of scientific and technological research as well as the training hub for highly qualified human resources in the field.

He also mentioned international cooperation, the establishment of industrial property rights, administrative reform, higher State investment for the industry, and the completion of related legal frameworks, among many other measures.