VINACHEM

Vietnam has been ranked 44th out of 133 countries and economies in the Global Innovation Index 2024 report, up two notches compared to the 2023 ranking.

According to the report released by the World Intellectual Property Organization (WIPO) on September 26, Vietnam sees an improvement in the Innovation Input Sub-index, rising four notches to 53rd position. The Innovation Input Sub-index comprises five pillars: Institutions, Human capital and research, Infrastructure, Market sophistication, and Business sophistication.

The country’s Innovation Output Sub-index also edges up by four notches compared to 2023, rising to 36th position. The Innovation Output Sub-index comprises two pillars: Knowledge and technology outputs, and Creative outputs.

Vietnam maintains its second position among low-middle-income countries. The low-middle-income country ranked above Vietnam is India, at 39th place.

The WIPO report shows Vietnam is among the middle-income economies that have the fastest in the GII ranking since 2013, alongside China, Turkey, India, the Philippines, Indonesia, Iran and Morocco.

Vietnam is also one of three countries that have consistently outperformed their development level for 14 consecutive years, alongside India and Moldova.

For 14 years in a row, the Southeast Asian country has consistently achieved higher innovation results compared to its level of development, demonstrating effectiveness in converting input resources into innovation output.

Its scores in various pillars are higher than those of countries in the low-middle-income group and even exceed those in the high-middle-income group, except for the second pillar that is Human Capital and Research.

Notably, in 2024, the country has three indicators that rank first in the world: high-tech imports, high-tech exports, and creative goods exports. Additionally, it has three indicators in the top 10 globally: labour productivity (ranked 3rd), number of smartphone applications (ranked 7th), and the share of research and development spending covered by businesses in total R&D expenditure (ranked 9th).

In a recorded statement during the GII 2024 report launch, Vietnamese Prime Minister Pham Minh Chinh emphasized that innovation is an objective necessity, a strategic choice, and a top priority for countries aiming for rapid and sustainable development, ensuring that no one is left behind.

“In the innovation process, Vietnam identifies the perspective of placing people at the center, making them the key players, so that citizens genuinely benefit from the results of innovation,” he said.

According to the PM, innovation impacts everyone and it is a global issue that requires a global approach and an inclusive strategy.

“Vietnam identifies education-training, and science - technology as the top national policy, with innovation serving as both a driving force and a resource, as well as a goal for development…..

“We highly value the support from international organizations, including WIPO, as well as scientists and experts who collaborate with us in promoting innovation to drive rapid and sustainable development for our country,” stated the PM.