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Thursday, July 18, 2024

Vietnam advances two spots in global innovation index

By Nguyen Tan

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HCMC – Vietnam has climbed two places to secure the 46th spot among 132 countries and territories in the 2023 Global Innovation Index (GII), according to the World Intellectual Property Organization.

The World Intellectual Property Organization released the GII 2023 report on September 17, with Switzerland, Sweden, the U.S., and the UK leading the list.

The report highlighted Vietnam as one of the middle-income economies that have made significant strides in innovation over the past decade, along with China, Turkey, India, the Philippines, Indonesia and Iran.

Vietnam has maintained its second position among low to middle-income countries, following India. Above Vietnam, there are five high-middle-income countries in the rankings: China, Malaysia, Bulgaria, Turkey and Thailand.

This year, Vietnam has also secured the 33rd position in unicorn valuation and the 66th position in research and development (R&D) expenditure.

Vietnam has made notable progress in translating innovation input into output performance. In 2023, the country has improved from the 59th to the 57th position in terms of input levels, and its output level has also rose one place to reach the 40th position.

The GII input pillars encompass institutions, human capital and research, infrastructure, market sophistication, and business sophistication. Meanwhile, the output comprises two pillars: knowledge and technology products, and creative products.

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