Vietnam ranked 42nd among 131 economies for the second consecutive year in the 2020 Global Innovation Index (GII), the World Intellectual Property Organisation (WIPO) has announced.
Illustrative image (Photo: VNA)
In economies making the most significant progress in their GII innovation ranking over time, Vietnam was first among 29 lower middle-income countries and third in Southeast Asia.
Compared to its own index last year, it posted higher levels in a number of indicators, including business sophistication, from 69th to 39th place, and creative output, from 47th to 38th.
It secured 19th position in the global brands value indicator, a new feature this year, with 33 brands listed among the top 5,000 best brands.
Switzerland, Sweden, the US, the UK, and the Netherlands led in the innovation rankings. The top 10 was dominated by high-income countries.
GII’s indicators provide a comprehensive overview of the innovation landscape, including the political environment, education, infrastructure, and business development.
Vietnam has used the GII as an important management tool since 2017, with its index rising from 71st place in 2014 to 59th in 2016 and 42nd last year.