On 27 June 2025, the National Assembly officially passed the Law on Science, Technology, and Innovation (the “New Law”) with 435 out of 438 National Assembly deputies attending and voting in favor. The New Law comprises 73 articles and shall take effect as from 1 October 2025.
The New Law establishes overarching policies aimed at promoting scientific research, technological development, and innovation nationwide. It particularly focuses on infrastructure development, encouraging risk-taking investment, flexible disbursement mechanisms, and immunity from liability where risks are knowingly accepted in pursuit of innovation. This legislation represents a breakthrough in consolidating and institutionalizing key policy resolutions of the Politburo such as Resolution No. 57-NQ/TW dated 2024 on the advancement of science, technology and innovation, Resolution No. 66-NQ/TW dated 2025 on the development of a knowledge-based economy, and Resolution No. 68-NQ/TW dated 2025 on reforming the management framework for science and technology tasks.
Beyond notable innovations such as investment in advanced research infrastructure, promotion of venture research, investment in breakthrough technologies, and comprehensive digital transformation of science and technology activities, the New Law places particular emphasis on incentivizing technological advancement in private enterprises and stipulating tax incentives applicable to both science and technology organizations and enterprises engaged in innovation activities.
250710 VTN_TAX POLICIES UNDER THE LAW ON SCIENCE, TECHNOLOGY, AND INNOVATION 2025
