Vietnam rises two spots in Global Innovation Index 2023
Vietnam has witnessed notable progress in its GII rankings, experiencing a rise from 59th place in 2016 to 42nd in both 2019 and 2020. However, the country faced a slight decline, ranking 44th in 2021 and 48th in 2022. Nevertheless, Vietnam has reestablished its position in the top 50, securing the 46th spot in the 2023 rankings.
Additionally, Vietnam has climbed two places in the innovation input sub-index, moving from 59th in 2022 to 57th in 2023. This sub-index evaluates various aspects of the economy that facilitate and support innovative activities, categorized into five pillars: institutions, human capital and research, infrastructure, market sophistication, and business sophistication.
Regarding innovation outputs, Vietnam has improved by one position, advancing from 41st in 2022 to 40th in 2023. The innovation output sub-index measures the tangible outcomes of innovative activities within the economy and is divided into knowledge and technology outputs, as well as creative outputs. Vietnam is part of the group of middle-income economies within the top 65 of the GII. This group, including countries like Indonesia, China, Turkey, India, the Philippines, and Iran, has shown the fastest ascent in the GII rankings over the past decade. The report highlights Vietnam as one of the three countries, alongside India and Moldova, consistently recognized as innovation overperformers for 13 consecutive years.
Daren Tang, the General Director of WIPO, stated, “A group of emerging economies consistently climbs the GII ranks, demonstrating the impact of focusing on the innovation ecosystem. Despite a decline in venture capital funding, the GII 2023 reassures us that innovative activity remains robust, shifting its focus from quantity to quality.” Tang concluded by expressing gratitude for the GII, emphasizing its role in providing policymakers worldwide with reliable data to shape pro-innovation policies and unlock the innovative potential of their respective populations.