In economies making the most significant progress in their GII innovation ranking over time, Việt Nam was first among 29 lower middle-income countries. — Photo nhandan.com.vn

HÀ NỘI — Việt Nam ranked 42nd among 131 economies for the second consecutive year in the 2020 Global Innovation Index (GII), the World Intellectual Property Organization (WIPO) has announced.

In economies with the most significant progress in their GII innovation ranking over time, Việt Nam was first among 29 lower-middle-income countries and third in Southeast Asia, behind Singapore (eighth) and Malaysia (33rd).

Compared to its own index last year, it posted higher levels in several indicators, including business sophistication, from 69th to 39th place, and creative output, from 47th to 38th.

It secured 19th position in the global brands value indicator, a new feature this year, with 33 Vietnamese brands listed among the 5,000 best brands.

Switzerland, Sweden, the US, the UK, and the Netherlands led in the innovation rankings. The top 10 was dominated by high-income countries.

The GII’s indicators provide an overview of the innovation landscape, including the political environment, education, infrastructure, and business development.

Bùi Thế Duy, deputy minister of Science and Technology, told VTV that Việt Nam’s improvement in innovation is a testament to the country’s continued investment from the State and businesses in science, technology and innovation.

The GII serves as an objective international assessment of each field of State management in promoting innovation in Việt Nam. Ministries, sectors and localities have realised their strong and weak points in State management, focusing on overcoming weaknesses and promoting strengths, Duy said.

According to experts, to improve its GII ranking in a sustainable manner, Việt Nam must continue focusing on innovation, with special attention paid to improving indicators on information technology infrastructure, application of information technology, and improvements in the business environment, legal regulations and quality of the workforce.

Since 2017, the Government has used the GII as an important administration and management tool and has assigned ministries, agencies and localities to take charge of improving the index. 

Việt Nam’s GII performance has constantly improved, jumping from 59th in 2016 to 43rd in 2017, 45th in 2018, and 42nd in 2019 and 2020.

This year marks the first time a second Asian economy – the Republic of Korea – has entered the top 10, next to Singapore (eighth). — VNS