Vietnam makes it into Top 50 economies in Global Innovation Index 2023

10:21 PM @ Thursday - 28 September, 2023

The World Intellectual Property Organization (WIPO) released the Global Innovation Index (GII) Report 2023 on September 27, ranking Vietnam 46th out of 132 countries and territories worldwide, up two notches compared to the 2022 report.

Vietnam also came second among the 37 lower middle-income group economies, with a performance above expectations for its level of development.

Regionally, the country found itself placed 10th among the 16 economies in Southeast Asia, East Asia, and Oceania.

The 2023 GII edition also revealed that Vietnam continues to score above the lower middle-income group average in all innovation pillars, ranking 57th in innovation inputs and 40th in innovation outputs, both two places higher compared to the 2022 edition.

According the WIPO, Vietnam is one of the seven middle-income countries that has achieved the most progress in innovation over the past decade. Six other countries include China, Turkey, India, the Philippines, Indonesia, and Iran.

Furthermore, It is also one of three countries, alongside India and Moldova, that holds records for having outstanding development achievements for the 13th year in a row,

The GII is published by the WIPO, a specialised agency of the UN. Recognising that innovation is a key driver of economic development, the GII aims to provide an innovation ranking and rich analysis referencing around 130 economies.

Over the last decade, the GII has worked to establish itself as both a leading reference on innovation and a “tool for action” for economies that incorporate the GII into their innovation agendas.

Vietnam has been featured in the ranking since its inception in 2007, rapidly improving since 2013 after spending several years languishing slightly above 70th position.  

Source: VOV