VN up 12 slots in Innovation Index

Việt Nam ranks 47th out of 127 economies in the Global Innovation Index 2017 announced on 15 June 2017, climbing 12 places compared to last year.

This is the highest rank Việt Nam has achieved.

Global Innovation Index, annually co-published by the World Intellectual Property Organisation (WIPO), US-based Cornell University, and INSEAD business school, surveys 127 economies using 79 indicators to gauge innovative capabilities and measurable results.

Việt Nam was ranked 9th in the Southeast Asia and Oceania region, one place higher than Thailand.

The survey said new Asian Tigers, such as Việt Nam, Indonesia and the Philippines, are emerging and joining not only Asian high tech value chains but also other activities, such as information and communication technology (ICT) offshoring.

Although Singapore is still uncontested as number 1 among the smaller or emerging Asian economies, countries such as Việt Nam, the Philippines and Thailand are catching up rapidly, the survey said.

“Among them, Việt Nam tops education expenditure in the region and does very well in ICT use, gross capital information and FDI net inflows,” the survey said.

Additionally, Việt Nam was assessed to be strong in a range of indicators, including knowledge and technology outputs; market sophistication, and expenditure on education.

The world’s five most innovative nations in the Global Innovation Index 2017 are Switzerland, Sweden, Netherlands, the United States and the United Kingdom.

Innovation is now widely recognised as a central driver of economic growth and development. The Global Innovation Index aims to capture the multi-dimensional facets of innovation by providing a rich of database of detailed metrics for 127 economies, which represents 92.5 per cent of the world’s population and 97.6 per cent of global GDP.

Source: Việt Nam News

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