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VN stands 45th in Global Innovation Index

VGP – The country has moved up in the Global Innovation Index (GII) 2018 Report to take the 45th position this year, up from the 47th spot last year, according to the GII report announced by the World Intellectual Property Organisation (WIPO) on July 10.

Among 30 low middle-income countries, Viet Nam ranked second in terms of the index. Innovation is now widely recognised as a central driver of economic growth and development. The Global Innovation Index aims to capture the multi-dimensional facets of innovation by providing a rich of database of detailed metrics for 126 economies. In the GII report 2017, Viet Nam was at the 47th place among 127 economies over the world. According to the report, Ukraine, Moldova and Viet Nam stand out for effectively translating innovation investments into results, performing better than would be expected by their levels of inputs. ASEAN economies are making great progress in innovation indicators, yet with significant differences in performance. As for the other economies in the group, Viet Nam shows the best scores in expenditure on education and trademarks by origin. The report notes that the consistent improvement in performance that is evident in Institutions for Viet Nam is behind these advances.