Vietnam has leaped two places in the Global Innovation Index (GII) in 2023, ranking 46th out of 132 countries and territories, according to a GII report released by the World Intellectual Property Organization (WIPO) on September 27.
According to the report, Vietnam has continued to show progress in converting innovation input into output performance. The country has jumped from 59th position in 2022 to 57th position in 2023 in terms of input level, while its output level was up one place to 40th position.
The GII input pillars include institutions, human capital and research, infrastructure, market sophistication, and business sophistication. Meanwhile, the output performance are knowledge and technology outputs and creative output.
Particularly, Vietnam has maintained its second position among lower middle-income countries in the overall GII after India (40th). Among ASEAN countries, Vietnam is behind Singapore, Malaysia and Thailand.
According to WIPO, Vietnam is among most impressive innovation climbers of the last decade. Vietnam, along with India and the Republic of Moldova, continue to be record holders by being innovation overperformers for a 13th consecutive year.
This year, Vietnam ranks 33rd in the unicorn valuation, and 66th in research and development (R&D) expenditure.
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