Econ
Vietnam named among world’s top 60 most innovative economies for first time
Vietnam was ranked 60th with score of 45.92, in which the country scored the lowest in “High-tech density” at 34 and highest in “Productivity” at 59.
For the first time Vietnam has been named among the world’s top 60 most innovative countries in the 2019 Bloomberg Innovation Index.
Vietnam was ranked 60th with score of 45.92, in which the country scored the lowest in “High-tech density” at 34 and the highest in “Productivity” at 59.
Singapore (6th), Malaysia (26th), and Thailand (40th) were three other Southeast Asian nations named in the list this year in addition to Vietnam.
The annual Bloomberg Innovation Index, in its seventh year, analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.
South Korea retained the global crown in 2019, though improvements by Germany in research and education brought Europe’s largest economy to near-parity in the annual ranking.
The US moved up to the eighth place, a year after cracks in education scores pushed it out of the top 10 for the first time.
In the Bloomberg Index, Germany almost caught six-time champion South Korea on the strength of added-value from manufacturing and research intensity, much of it built around industrial giants such as Volkswagen AG, Robert Bosch GmbH and Daimler AG. Although South Korea extended its winning streak, its lead narrowed in part because of lower scores in patent activity.
Sweden, the runner-up in 2018, fell to the seventh spot. Patent activity boosted the scores for China and Israel, which was a big winner by jumping five spots to the fifth overall. The Middle Eastern country surpassed Singapore, Sweden and Japan in the process.
The UK fell one spot to the 18th and lost out to China for the first time. China’s score reflects a dichotomy in the world’s second-largest economy: it ranked No. 2 in patent activity on the strength of R&D from Huawei Technologies Co. and BOE Technology Group, but still lags behind most innovative alums in overall productivity.
The United Arab Emirates made the highest debut in 46th place. Brazil rejoined the index in the 45th spot after not being ranked last year. Also among the new entrants are some of the world’s largest emerging economies: India, Mexico, Vietnam and Saudi Arabia. South Africa remains the only Sub-Saharan nation to be ranked.
The 2019 ranking process began with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that did not report data for at least six categories were eliminated, trimming the total list to 95. Bloomberg publishes the top 60 economies.
Vietnam was ranked 60th with score of 45.92, in which the country scored the lowest in “High-tech density” at 34 and the highest in “Productivity” at 59.
Singapore (6th), Malaysia (26th), and Thailand (40th) were three other Southeast Asian nations named in the list this year in addition to Vietnam.
The annual Bloomberg Innovation Index, in its seventh year, analyzes dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.
South Korea retained the global crown in 2019, though improvements by Germany in research and education brought Europe’s largest economy to near-parity in the annual ranking.
The US moved up to the eighth place, a year after cracks in education scores pushed it out of the top 10 for the first time.
In the Bloomberg Index, Germany almost caught six-time champion South Korea on the strength of added-value from manufacturing and research intensity, much of it built around industrial giants such as Volkswagen AG, Robert Bosch GmbH and Daimler AG. Although South Korea extended its winning streak, its lead narrowed in part because of lower scores in patent activity.
Sweden, the runner-up in 2018, fell to the seventh spot. Patent activity boosted the scores for China and Israel, which was a big winner by jumping five spots to the fifth overall. The Middle Eastern country surpassed Singapore, Sweden and Japan in the process.
The UK fell one spot to the 18th and lost out to China for the first time. China’s score reflects a dichotomy in the world’s second-largest economy: it ranked No. 2 in patent activity on the strength of R&D from Huawei Technologies Co. and BOE Technology Group, but still lags behind most innovative alums in overall productivity.
The United Arab Emirates made the highest debut in 46th place. Brazil rejoined the index in the 45th spot after not being ranked last year. Also among the new entrants are some of the world’s largest emerging economies: India, Mexico, Vietnam and Saudi Arabia. South Africa remains the only Sub-Saharan nation to be ranked.
The 2019 ranking process began with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that did not report data for at least six categories were eliminated, trimming the total list to 95. Bloomberg publishes the top 60 economies.
