Gov’t Supports New Tech Production Investment
The Ministry of Finance and the Ministry of Science and Technology recently issued a Joint Circular 79/2014/TTLT-BTC-BKHCN on financial regulations for the National Technological Renovation Programme to 2020. The circular clearly defines contents, supports and finances for the national programme.
Accordingly, pilot production will be supported 50 percent at most of the total investment (excluding remaining value or depreciated cost of equipment, buildings included to total investment). Regarding agricultural development projects in poor localities will be supported up to 70 percent of total investment capital in accordance with the Prime Minister’s Decision No. 30/2007/QD-TTg.
Besides, half of wages for scientists and technical personnel directly engaged in assessing and evaluating technologies; researching, renovating and perfecting technological processes, scientific solutions and technologies; testing, analysing, examining and assessing the quality of products. Up to 30 percent subsidies will be given to purchasing supplies, materials, fuel, testing and analysing equipment. According to the circular, the State Budget will support all funds for carrying out technological research and development projects.
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