Vietnam has risen to 46th place out of the 132 economies in the Global Innovation Index (GII) 2023, published by the World Intellectual Property Organization (WIPO).
Vietnam has made marked improvements in its GII rankings, jumping from 59th in 2016 to 42nd in 2019 and 2020. The country then slipped to 44th in 2021 and 48th in 2022. With its 46th 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 59th in 2022 to 57th 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 41st in 2022 to 40th 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 13th 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.
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