Perfecting the law of innovation in Vietnam in the spirit of resolution No. 57-NQ/TW of Political bureau

Abstract

Perfecting the law of innovation is an urgent requirement for Vietnam to fully exploit the opportunities presented by the 4.0 Revolution. This will create the position and strength for the country to achieve a breakthrough in development and become prosperous in the new era- the era of National rise. Based on the Communist Party of Vietnam's viewpoint in Resolution No. 57-NQ/TW, along with legal science and current situation, this article analyzes and explains the requirements for perfecting regulations on innovation in Vietnam as a theoretical framework for assessing the current state of innovation law prior to the enactment of the Law on Science, Technology and Innovation 2025 (hereinafter “Law No. 93/2025/QH15”). The assessment process has highlighted both the advantages and limitations of current law regarding: (1) the implied meaning of innovation; (2) mechanisms for testing innovative products; (3) mechanisms for attracting investment and finance for innovation; and (4) the innovative startup ecosystem. From this analysis, the article elucidates the novel features introduced by the Law on Science, Technology and Innovation 2025, recommendations are proposed to remove legal barriers and bottlenecks, thereby liberating resources to promote innovation in Vietnam.