Business

Intellectual property to drive knowledge economy: workshop

Amendments to legal regulations relating to intellectual property (IP) will contribute to improving Vietnam’s IP system, making it an important tool to promote national competitiveness and drive the knowledge economy, thus promoting socio-economic development, Minister of Science and Technology Huynh Thanh Dat has said.
Intellectual property to drive knowledge economy: workshop ảnh 1Intellectual property to drive knowledge economy. Illustrative image (Photo: VNA)

HCM City (VNA) - Amendments to legal regulations relating to intellectual property (IP) willcontribute to improving Vietnam’s IP system, making it an important tool to promotenational competitiveness and drive the knowledge economy, thus promoting socio-economicdevelopment, Minister of Science and Technology Huynh Thanh Dat has said.

Addressing a consultation workshop on March 12 in Ho Chi Minh City ona draftlaw amending and supplementing certain articles of the Law on Intellectual Property, Dat highlighted the need to amendthe law in the context of significant changes affecting all socio-economicmatters, especially Vietnam’s increasing international integration via new generationfree trade agreements (FTAs), the rising trend towards trade protectionism, andVietnam’s plan for a development-facilitating government.

The amendments aim to institutionalise the policies of the Party and the Statein the field, address inadequacies and issues in law enforcement, integrate internationalcommitments in domestic laws, and create a full legal framework for intellectualproperty in the country, he said.

Speaking at the workshop, which was supported by the Southeast Asia Financial Sector and IntellectualProperty (FSIP) Programme funded by the UK’s Sovereign Wealth Fund, Sam Wood, Deputy Consul-General of the UK in HCM City, said the gathering reflects Vietnam’scommitment to amending and supplementing the law in line with international standards,contributing to expanding cooperation between Vietnam and the UK in this regard.

Through the FSIP Project, best IP practices from the UK have been widely sharedwith Vietnamese stakeholders.

The two sides are strengthening cooperation, ensuring that intellectual propertyserves as a catalyst for innovation and creativity, thus supporting economic growth.

Wood said he believes the economic and trade relationship between Vietnam and theUK will continue to prosper.

Participants at the workshop focused discussions on the proposed revisions relatingto industrial property right, copyright, and plant varieties rights.

The Law on Intellectual Property was first released in 2005 and amended in 2009and 2019. It has played an important role in creating a legal corridor for the creationand protection of intellectual property rights for organisations and individuals.

This draft amending and supplementing certain articles will be submitted for comment at the 15th NationalAssembly’s second session in October./.
VNA
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