Vietnam: National Assembly adopted Law on Technology Transfer (Law No. 07/2017/QH14) including technology transfer requirement

On 19 June 2017, the National Assembly adopted the Law on Technology Transfer (Law No. 07/2017/QH14), which establishes a unified framework for technology transfer within Vietnam, including domestic transfers, inbound transfers, and outbound transfers. The Law regulates the registration, appraisal, approval and licensing of technology transfer contracts, defines rights and obligations of transferors and transferees, and specifies the management of encouraged, restricted, and banned technologies. It requires the Ministry of Science and Technology to license the transfer of restricted technologies and monitor their compliance. The Law stipulates that it shall take effect as of 1 July 2018, and that the Law on Technology Transfer No. 80/2006/QH11 shall become null as of the date this Law takes effect.