Vietnam climbs two positions in Global Innovation Index 2023

Vietnam has made marked improvements in its GII rankings, jumping from 59^th in 2016 to 42^nd in 2019 and 2020. The country then slipped to 44^th in 2021 and 48^th in 2022. With its 46^th spot secured in 2023, Vietnam has once again solidified its position in the top 50.

Vietnam also climbed two places in the innovation input sub-index, from 59^th in 2022 to 57^th in 2023. The innovation input sub-index gauges elements of the economy that enable and facilitate innovative activities. It is grouped into five pillars, including institutions, human capital and research, infrastructure, market sophistication, and business sophistication.

In terms of innovation outputs, Vietnam improved one position from 41^st in 2022 to 40^th in 2023. The innovation output sub-index captures the actual results of innovative activities within the economy and is divided into knowledge and technology outputs and creative outputs.

Vietnam is among the group of middle-income economies within the GII's top 65. This is the group that has climbed the GII rankings fastest over the last decade. Other countries in the group include Indonesia, China, Turkey, India, the Philippines, and Iran.

The report indicates that Vietnam is one of three countries – along with India and Moldova – to be identified as an innovation overperformer for the 13^th consecutive year.

Daren Tang, WIPO's general director said, "A group of emerging economies are consistently climbing the GII ranks, showing how a focus on the innovation ecosystem can make a difference. Globally, despite a downturn in venture capital funding, the GII 2023 should reassure us that innovative activity currently continues to run strong, and that it should continue to shift from quantity to quality."

"Thanks to the GII, policymakers across the world continue to have a rich and trusted source of data to craft pro-innovation policies that will unleash the innovative potential of their people," Tang concluded.

Innovation and sustainability bring competitive advantages in business Innovation not only creates value for investors and the community, but also encourages enterprises to realise their sustainable development goals.

Vietnam and US companies collaborate on semiconductors and innovation High-level meetings between the US and Vietnam have paved the way for a strategic partnership focusing on the technology sector, with semiconductors and innovation at the forefront.

Techconnect and Innovation Vietnam 2023 to begin later this week Techconnect and Innovation Vietnam 2023 will see hundreds of tech companies showcase their products and solutions in the northern province of Quang Ninh from September 29-30. Many different sci-tech organisations, academies, schools, as well as domestic and international investors are also expected to attend.