Econ
Vietnam gets closer to world’s top 40 innovative economies
When comparing levels of innovation to the level of economic development, Vietnam, along with India, Kenya and Moldova, stands out for outperforming on innovation relative to GDP for the ninth consecutive year.
Vietnam is ranked 42nd with score of 38.84 out of 100 points in the Global Innovation Index (GII) 2019 report, up three places against the previous year and getting closer to the world’s top 40 innovation economies.
When comparing levels of innovation to the level of economic development, Vietnam, along with India, Kenya and Moldova, stands out for outperforming on innovation relative to GDP for the ninth consecutive year, stated the report.
This resulted in the country being ranked as the top economy in the lower-middle income country group, which consists of 26 countries and territories.
The country scores above average in all the dimensions measured in the GII relative to the lower middle-income group and has an overall innovation performance that is comparable to the top economies in the upper middle-income group, standing above those of high-income oil-rich economies like Kuwait, Qatar, Bahrain, and Oman.
Additionally, Vietnam continues to show a consistent improvement in its scores in Human capital and research, Market sophistication, and Knowledge and technology outputs.
Among ASEAN countries, Vietnam stayed behind Singapore (8th) and Malaysia (35th), while the country continues to lead in areas like Expenditure on education and trademarks, as well as on High-tech imports. In input indicators, Vietnam performs well in FDI net inflows but shows relatively low scores in enrollment rate for tertiary level of education and females employed with advanced degrees. It scores lowest in the group in knowledge-intensive employment. In outputs, Vietnam scores well in scientific and technical publications, creative goods and exports, and patents by origin, and shows its lowest score for citable documents H-index.
At the report launching ceremony, Deputy Minister of Science and Technology Pham Cong Tac said Vietnam has gradually shifted its growth foundation from capital and cheap labor cost towards a growth model based on innovation and technologies.
In this year GII report, Switzerland claimed the top spot with 67.24 points, followed by Sweden, the US, Netherlands and England, making up the top 5 innovation economies.
The GII 2019 report is a result of collaboration between Cornell University, the Business School for the World (INSEAD), and the World Intellectual Property Organization (WIPO), aiming to rank the innovation performance of nearly 130 economies around the world.
This resulted in the country being ranked as the top economy in the lower-middle income country group, which consists of 26 countries and territories.
The country scores above average in all the dimensions measured in the GII relative to the lower middle-income group and has an overall innovation performance that is comparable to the top economies in the upper middle-income group, standing above those of high-income oil-rich economies like Kuwait, Qatar, Bahrain, and Oman.
Additionally, Vietnam continues to show a consistent improvement in its scores in Human capital and research, Market sophistication, and Knowledge and technology outputs.
Among ASEAN countries, Vietnam stayed behind Singapore (8th) and Malaysia (35th), while the country continues to lead in areas like Expenditure on education and trademarks, as well as on High-tech imports. In input indicators, Vietnam performs well in FDI net inflows but shows relatively low scores in enrollment rate for tertiary level of education and females employed with advanced degrees. It scores lowest in the group in knowledge-intensive employment. In outputs, Vietnam scores well in scientific and technical publications, creative goods and exports, and patents by origin, and shows its lowest score for citable documents H-index.
At the report launching ceremony, Deputy Minister of Science and Technology Pham Cong Tac said Vietnam has gradually shifted its growth foundation from capital and cheap labor cost towards a growth model based on innovation and technologies.
In this year GII report, Switzerland claimed the top spot with 67.24 points, followed by Sweden, the US, Netherlands and England, making up the top 5 innovation economies.
The GII 2019 report is a result of collaboration between Cornell University, the Business School for the World (INSEAD), and the World Intellectual Property Organization (WIPO), aiming to rank the innovation performance of nearly 130 economies around the world.
