Functions, Duties and Powers of the National Foundation for Science and Technology Development

Functions

1. To provide funding and commission the implementation of science, technology and innovation programs and tasks for scientific research and technological development.

2. To support activities aimed at enhancing national science and technology capacity in accordance with the law.

Duties

a) To receive and manage financial resources:

a1) To receive, manage and use funding from the state budget in accordance with the law;

a2) To receive, manage and use non-state budget financial resources in accordance with agreements with contributors (if any), regulations on funding, commissioning and support, and the Foundation's internal expenditure regulations;

b) To perform tasks consistent with the objectives and functions of the Foundation and support state management in the fields of science, technology and innovation;

c) To comply with reporting and accounting requirements in accordance with the law;

d) To comply with inspections, examinations and audits conducted by competent state management authorities in accordance with the law;

dd) To manage the organizational structure, personnel, finances and assets of the Foundation in accordance with the law;

e) To resolve complaints, denunciations and petitions related to the Foundation's activities in accordance with the law;

g) To comprehensively implement digital transformation in the administration and management of science, technology and innovation activities funded, commissioned or supported by the Foundation, ensuring transparency and timeliness; and to manage, operate and exploit digital platforms supporting science, technology and innovation activities;

h) To perform other tasks as assigned, decentralized or authorized by the Minister of Science and Technology.

Powers

a) To act as the task management agency responsible for organizing and implementing funding, commissioning and support activities consistent with the objectives and functions of the Foundation and the approved budget plan, in accordance with the law on the management of science and technology programs and tasks and activities aimed at enhancing national science and technology capacity;

b) To inspect, supervise and evaluate the effectiveness and impact of the implementation of, and use of funding for, science and technology tasks and activities aimed at enhancing national science and technology capacity;

c) To suspend, or propose to competent authorities the suspension of, funding, commissioning, support or disbursement, or to recover funding that has been provided, commissioned, supported or disbursed, upon detecting that organizations or individuals have violated the Foundation's regulations or relevant laws;

d) To conduct research, provide policy advice, formulate and submit to competent authorities for promulgation legal normative documents, strategies, plans, priority orientations and other documents serving the management and implementation of the Foundation's funding, commissioning and support activities;

dd) To promulgate the Foundation's Operating Regulations and other documents serving the Foundation's operations within its authority and in accordance with the law;

e) To apply digital technologies and artificial intelligence in the management, administration and organization of science, technology and innovation activities funded, commissioned or supported by the Foundation;

g) To participate in and implement co-funding mechanisms with other funds, enterprises or organizations in carrying out science, technology and innovation tasks in accordance with the law; together with other science, technology and innovation development funds, to establish an ecosystem for funding, commissioning and supporting science, technology and innovation activities operating seamlessly from central to local levels; and to cooperate with domestic and foreign organizations and individuals, as well as relevant international organizations, in activities related to the Foundation;

h) To negotiate and enter into cooperation agreements and contracts; commission tasks; and engage organizations, experts, scientists and individuals from Vietnam and abroad to provide consultancy on the management, administration and improvement of the Foundation's operational efficiency;

i) To exercise other powers as provided for by law.