Vietnam jumps three steps in global innovation index

July 25, 2019 | 16:14

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Vietnam continued to improve its performance by jumping three spots to rank the 42th position out of 129 economies in the Global Innovation Index (GII).

vietnam jumps three steps in global innovation index

The World Intellectual Property Organization (WIPO) announced the GII on July 24 in New Delhi.

Accordingly, it is the highest ranking that Viet Nam has ever achieved.

Switzerland, the U.S., UK, Finland and the Netherlands were named on the top list.

Addressing the event, Deputy Minister of Science and Technology Pham Cong Tac affirmed that Viet Nam’s science-technology and innovation sector has made direct and indirect contributions to national economic growth over the past years, especially in fields of health care, agriculture and industries.

So far, room for growth which relies on capital and cheap labor has been gradually narrowed down.

In order to maintain growth momentum, Viet Nam is shifting to growth model based on science-technology and innovation, he added.

According to Mr. Tac, the GII’s approaching method is extremely appropriate. The Vietnamese Government has assigned ministries, agencies, and localities to conduct measures to improve Viet Nam’s rankings in the GII.

Sacha Wunsch Vincent, head of the WIPO’s Composite Indicator Research Section, Economics and Statistics Division and Co-Editor of the GII, assessed Viet Nam as a model country among those surveyed by the WIPO over the past three years.

Vietnam was hailed as one of the most active countries in improving its performance in GII, Mr. Sacha Wunsch Vincent said.

GII’s 80 indicators provide a comprehensive overview of innovation landscape, including political environment, education, infrastructure, and business development.

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