Vietnam's Ministry of Science and Technology, through the National Foundation for Science and Technology Development (NAFOSTED), is formulating a major breakthrough in financial governance for national strategic technology projects. This step aims to shift the management paradigm from traditional research project-based models to a result-oriented investment-based model that is more internationally competitive.
In a recent policy workshop, NAFOSTED identified several systemic obstacles, such as rigid budgeting methods focused solely on expenditure lines and a lack of adequate incentives for researchers. As a solution, the government proposed six new financial mechanisms, including risk contingency funds of up to 10% and flexibility in choosing research partners for optimal effectiveness.
One of the most ambitious aspects of this plan is the adjustment of remuneration schemes for experts. Adopting Singapore's successful model, the government proposes highly competitive income standards, with salaries for chief engineers reaching up to 300 million VND per month. This policy is expected to attract top talent as well as foreign scientists to directly contribute to the development of Vietnam's core technologies.
The program planned for the 2026–2030 period has concrete targets, namely mastering 12 core technologies and producing at least 30 strategic technology products ready for commercialization. Additionally, the use of regulatory sandboxes and conditional pre-purchase commitments will serve as supporting instruments to strengthen the market ecosystem for domestic tech products.
This policy transformation underlines Vietnam's ambition to achieve technological independence and strengthen national competitiveness on the global stage. By integrating state funding with private investment, the government is optimistic that this new framework will act as a catalyst for innovation that is more adaptive, efficient, and oriented toward modern industrial market needs.
