Vietnam: National Assembly adopted Law on Technology Transfer (Law No. 07/2017/QH14) including authorisation of goods or services

On 19 June 2017, the National Assembly adopted the Law on Technology Transfer (Law No. 07/2017/QH14), introducing an authorisation regime for technology transfers involving restricted and banned technologies. The Ministry of Science and Technology is responsible for appraising and licensing restricted technologies, issuing Technology Transfer Licences, and rejecting or revoking authorisations where conditions are not met. The Law prohibits unauthorised transfers of banned technologies and requires that all restricted technologies obtain prior approval before transfer. 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.