HCMC – Vietnam 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, steering closer to regional powerhouses like China, Japan, Singapore and South Korea.

The report, released in New York on Tuesday, marks the 11th edition of the GII and the beginning of its second decade of providing data and insights gathered from tracking innovation across the globe.

This year’s edition is dedicated to the theme of “Energizing the World with Innovation,” a collaboration among the Business School for the World (INSEAD), Cornell University and the World Intellectual Property Organization (WIPO) – a specialized agency of the United Nations.

The theme analyzes the energy innovation landscape of the next decade and identifies possible breakthroughs in fields such as energy production, storage, distribution and consumption. It also looks at how breakthrough innovation occurs at the grassroots level and describes how small-scale renewable systems are on the rise.

Vietnam, which finishes in second place among lower-middle-income countries in the current edition, has been noted as climbing in the rankings since 2016. The Southeast Asian nation is considered a fast innovation mover, together with Mexico, Iran and Thailand.

“Countries that we see climbing rather consistently are India, Iran, Thailand and Vietnam,” said WIPO Director General Francis Gurry.

Soumitra Dutta, Former Dean and Professor of Management at Cornell University, said, “Over time, a number of emerging economies stand out for being real movers and shakers in the innovation landscape.

“Aside from China, which is already in the top 25, the middle-income economy closest to this top group is Malaysia. Other interesting cases are India, Iran, Mexico, Thailand and Vietnam, which consistently climb in the rankings.”

According to the report, Ukraine, Moldova and Vietnam 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, Vietnam 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 Vietnam is behind these advances.

In particular, government grants from the Ministry of Industry and Trade and the Ministry of Science and Technology play a central role in stimulating private-sector investments in energy transformation technologies.

Vietnam is also performing well in gross capital formation and foreign direct investment inflows. At the same time, the nation has some of the lowest scores in tertiary enrollment, university and industry research collaboration and knowledge-intensive employment.

In the output indicators selected here, Vietnam has the lowest score of the group in information and communication technology services exports but ranks well in scientific and technical publications.

As happens in various countries, the Vietnamese Government has assigned responsibilities to ministries, agencies and local governments to undertake actions to improve Vietnam’s innovation performance, guided by the GII, and to address missing and outdated data, in collaboration with the WIPO.

With the knowledge gained, the Ministry of Science and Technology has published a handbook on the GII, including detailed guidance on definitions, data sources and indications of how to access original data.

A series of workshops has also been held to introduce the GII framework to ministries and local governments and to support them in designing action plans to address their assigned missions of improving specific aspects of the Vietnamese innovation system- The Saigon Times.

OTHER NEWS ON THE AUSCHAM WEBSITE

In the toolbar of this website, click on “NEWS” for the drop down menu which includes: