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turn the emerging PPP framework for high-tech innovation into practical results. These
solutions should focus on legal coherence, financial incentives, project development,
implementation capacity, and international connectivity.
5.1. Improving the legal and policy framework
A first priority is to operationalize the new legal framework through more detailed
implementing guidance. The 2025 Law on Science, Technology and Innovation and Decree
No. 180/2025/ND-CP have created the policy basis for innovation-oriented PPP, but
implementing agencies still need clear procedural guidance. Relevant ministries should
promptly issue documents clarifying criteria for project identification, investor selection,
contract structures for R&D-intensive activities, treatment of public assets, and
mechanisms for intellectual property and revenue-sharing. Without such guidance,
ministries and local authorities may remain hesitant to use the new framework,
(Government, 2025).
At the same time, broader legal coherence is needed. Several related laws, including
those governing public assets, bidding, investment, enterprises, high technology,
intellectual property, and technology transfer, should be reviewed to remove barriers to
innovation-oriented PPP. One important principle is that innovation PPPs should not be
constrained by institutional assumptions borrowed uncritically from infrastructure PPPs.
R&D and digital projects may require different tendering arrangements, more flexible
contracts, and special treatment of public assets and commercialization rights.
Vietnam should also expand the use of sandbox mechanisms for selected high-tech
PPP pilots. Because many models remain new and legally incomplete, pilot arrangements
under controlled conditions would allow practical experimentation while limiting
institutional risk. Resolution No. 193/2025/QH15 already provides a basis for special
mechanisms in science, technology, and innovation. The Government should use this
opening to test distinctive PPP models in areas such as AI, semiconductor support systems,
public data platforms, and advanced technology centers (National Assembly, 2025a,
2025b).
5.2. Developing a portfolio of strategic projects and effective financial
mechanisms
Vietnam needs a clearly identified pipeline of strategic PPP projects in high-tech
innovation. Based on national strategies for science, technology, and digital infrastructure,
the Government should identify a number of priority areas where PPP can realistically be
mobilized. These may include national and regional data infrastructure, digital platforms
for public governance, innovation centers, shared research infrastructure, key
laboratories, semiconductor support systems, and pilot production initiatives in high-tech
manufacturing or biopharmaceuticals. Public disclosure of a project portfolio would help
attract investors, development partners, and technology firms from an early stage.
Financial mechanisms must also be sufficiently attractive. In addition to existing tax
and land incentives, Vietnam should consider establishing a dedicated Innovation PPP
Support Fund using state budget resources, ODA, and possibly blended finance. Such a
fund could provide non-repayable co-financing for the research component of PPP
projects, thereby reducing enterprise exposure to non-commercial risk. Preferential credit
through development finance institutions may also be used to support contractual
obligations under qualified projects.
A particularly important issue is implementation of revenue-risk sharing. Decree No.
180 allows science and technology PPP projects to receive stronger protection against

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