WIPO report: Viet Nam places 44th in innovation ranking

VGP – Viet Nam ranked 44th out of 132 countries and economies in the innovation ranking, according to the World Intellectual Property Organization (WIPO)’s report which was published on September 20.

September 21, 2021 3:59 PM GMT+7

The country was among four middle income economies catching up and changing the innovation landscape, the WIPO stated.

Viet Nam’s innovation index dropped two places compared to 2019 and 2020 (two years ago it placed 42nd in the ranking), which is due to the nation’s newly calculated GDP data.

The report has improved the nation’s input ranking of change-up two places (from 62 to 60) compared to 2020, and maintained the same position in the output ranking (38th place).

Thailand (43), Viet Nam, the Philippines (51) and Indonesia (87) have moved up between five and 40 Global Innovation Index (GII) spots in the past decade, the WIPO reported.

Thailand and Viet Nam rank in the top 30 worldwide for the sophistication of their markets, and the Philippines does so in knowledge and technology outputs. They are now leaders in other key innovation indicators too, the report highlighted.

The WIPO underscored that while Thailand leads in R&D financed by business, Viet Nam and the Philippines are world leaders in high-tech exports.

By Thuy Dung