Global Innovation Index: VN ranks first among lower-middle income group

The index, compiled by World Intellectual Property Organisat (WIPO) along with Cornell University and the INSEAD business school, presents the latest global innovation trends and annual innovation ranking of 131 economies.

Viet Nam scored an overall of 37.12 points to rank 42 for the second consecutive year, considerable improvement from its average rank of 68 in the period of 2013-2015.

Among the lower middle-income group, Viet Nam is followed by Ukraine (45th, up by 2) and India (48th, up by 4), and the Philippines (50th, up by 4).

Over the past seven years, Viet Nam along with China, the Philippines, India are the GII economies in the top 50 with most significant rank progress over time, certainly due to improved innovation performance, according to this year’s edition.

The Southeast Asian country continues to score above the lower middle-income group average in all pillars and has scores in Business and Market sophistication, as well as in both output pillars that are even above the average of the upper middle-income group.

Viet Nam, Ukraine, the Philippines, and India stand out as lower middle-income economies that are getting much more outputs for their inputs. Their levels remain above those of high-income, oil-rich economies Kuwait, Qatar, Bahrain, Saudi Arabia, and Oman.

This year’s GII education shows Viet Nam, India, Kenya, and Moldova hold the record of being innovation achievers for 10 consecutive years.

In the face of an increase of unilateralism and nationalism, it is important to remember that most economies that have moved up the ranks in the GII over time have strongly benefited from their integration in global value chains and innovation networks. Viet Nam, Chin, India, and the Philippines are prime examples./.

By Ngoc Van