The Decree consists of 5 chapters and 21 articles stipulating the organization, functions, tasks, powers, and operations of the National Technology Innovation Fund (hereinafter referred to as the Fund); applicable to the Fund, agencies, enterprises, organizations, and individuals related to the organization and operation of the Fund.

Organizational structure of the Fund

According to the Decree, the National Technology Innovation Fund is a public non-business unit under the Ministry of Science and Technology, operating in the fields of science, technology, and innovation.

The Fund has legal status, its own seal and bank accounts, and is allowed to open accounts at the State Treasury and at legally operating commercial banks in Viet Nam. The Fund’s head office is located in Hanoi.

Regarding organizational structure, the Fund has a Director, Deputy Directors, a Chief Accountant, and assisting departments. The Director is the legal representative of the Fund. The Director, Deputy Directors, and Chief Accountant are appointed and dismissed by the Minister of Science and Technology. The organizational structure of the Fund is regulated by the Minister of Science and Technology.

The Director of the Fund decides to establish the Council for Science, Technology and Innovation and Advisory Councils (hereinafter referred to as the Councils) to advise on professional activities, strategies, planning, long-term, medium-term, and annual plans of the Fund. The Councils operate under regulations issued by the Director of the Fund.

Functions and powers of the Fund

The Fund has 4 functions as follows:

1. To finance and place orders for innovation tasks including: technology innovation tasks; intellectual property development, productivity and quality improvement tasks; startup support tasks; loan interest support tasks; and support through financial vouchers.

2. To finance and place orders for the implementation of national innovation programs issued by the Minister of Science and Technology and other national programs in the field of innovation approved by competent authorities.

3. To finance and place orders for special science, technology, and innovation tasks, and special national science, technology, and innovation programs assigned by competent authorities for technology application, technology transfer, technology innovation, and innovation.

4. To provide financial support for technology application, technology transfer, technology innovation, and innovation. To support the development of the innovation system, innovative startup ecosystem, and promote innovation and startup culture.

The Fund has 8 powers as follows:

1. To organize the implementation of funding, ordering, and support activities of the Fund in accordance with assigned objectives and scope of operation based on priority orientation, legal regulations, and approved budget plans.

2. To enter into contracts, cooperation agreements, and hire organizations, experts, scientists, and other individuals to support the Fund’s management activities.

3. To adjust content, temporarily suspend, suspend, or terminate funding, ordering, or support in case of detected violations.

4. To refuse funding, ordering, or support if dossiers do not meet requirements or violate criteria and conditions as prescribed and notified by the Fund.

5. To carry out cooperation, professional and technical support activities in science, technology, and innovation with domestic and foreign organizations and individuals in accordance with agreements consistent with the functions and tasks of the Fund.

6. To conduct inspections of compliance with conditions, regulations, procedures, and use of funding for organizations and individuals funded, ordered, or supported by the Fund from the stage of task proposal; in case of detected violations, the Fund shall consider and handle them in accordance with the law. Relevant organizations and individuals are responsible for fully and promptly providing documents and materials for inspection upon request of the Fund.

7. To issue regulations for managing and implementing the Fund’s activities in accordance with its functions.

8. To exercise other powers as prescribed by law.

This Decree takes effect from 17/3/2026. It annuls Articles 26, 27, 28, 29, 30, 31, 32, 33 and Clause 2 of Article 35 of Decree No. 265/2025/ND-CP dated 14/10/2025 of the Government detailing and guiding the implementation of a number of articles of the Law on Science, Technology and Innovation regarding finance and investment in science, technology, and innovation.