Vietnam jumps 2 places in Global Innovation Index 2023

On the evening of September 27, Vietnam time, in Switzerland, the World Intellectual Property Organization (WIPO) held the Ceremony to announce the Global Innovation Index 2023 Report.

Accordingly, Vietnam ranked 46/132 countries and economies, up 2 places compared to 2022.

According to the report, Vietnam continues to improve its innovation input ranking by 2 places compared to 2022, from 59th to 57th (innovation input includes 5 pillars: Institutions, Human resources and research, Infrastructure, Market development level, Enterprise development level).

Innovation output increased by 1 rank compared to 2022, from position 41 to 40 (innovation output includes 2 pillars: Knowledge and technology products, Creative products).

Vietnam maintained its second position in the group of lower-middle-income countries. The lower-middle-income country above Vietnam is India, ranked 40th.

In addition, there are 5 upper middle-income countries ranked above Vietnam: China (ranked 12th), Malaysia (ranked 36th), Bulgaria (ranked 38th), Turkey (ranked 39th) and Thailand (ranked 43rd). The rest of the countries ranked above Vietnam are all industrially developed countries, belonging to the high-income group.

In the ASEAN region, Vietnam ranks behind Singapore (ranked 5th), Malaysia (ranked 36th) and Thailand (ranked 43rd).

According to WIPO, Vietnam is one of the seven middle-income countries that have made the most progress in innovation over the past decade (including China, Türkiye, India, Vietnam, the Philippines, Indonesia and the Islamic Republic of Iran). Vietnam is also one of the three countries that have outperformed their development level for 13 consecutive years (including India, the Republic of Moldova and Vietnam).

In 2023, the innovation index will have some changes in component indicators, data sources and calculation methods. Among them, there is a new index on startups such as "Value of unicorn enterprises" (Vietnam is ranked 33).

Vietnam's research and development (R&D) spending ranked 66th, no improvement compared to previous years. However, the R&D spending of the Top 3 large enterprises improved significantly, ranking 29th, up 9 places compared to 2022.

The value of venture capital deals, although still small, has also improved significantly compared to 2022, ranking 60, up 17 places compared to 2022. Enterprises continue to invest in implementing quality management according to ISO, accordingly, the index of ISO 9001/PPP$GDP value has increased 15 places compared to 2022, from position 65 to 50 in 2023.

In addition, some indicators are still at a low level. The ecological sustainability index group, although up 3 places compared to 2022, is still ranked very low, ranked 110. Of which, the most notable is the Environmental Outcomes index ranked 130, continuing to decrease 2 places compared to 2022. This index has always had a low ranking since 2017.

Institutional issues still need much improvement to facilitate socio-economic development based on science, technology and innovation. The Law Enforcement Effectiveness Index ranked 72nd, down 2 places compared to 2022. The Quality of Legal Regulations Index improved by 10 places from 93rd to 83rd in 2022, and dropped to 94th in 2023.

GII is a prestigious toolkit for assessing national innovation capacity in the world, reflecting the socio-economic development model based on science, technology and innovation of countries. Through that, countries can see the overall picture as well as their strengths and weaknesses.