Vietnam ranks 44th in the Global Innovation Index 2021. (Illustrative photo)
According to WIPO, along with Turkey (41), India (46) and the Philippines (51), Vietnam is among 4 middle-income nations that are systematically catching up on the world’s innovation index.
The GII 2021 report shows that 19 economies are exceeding expectations for innovation in relation to their level of development. Notably, Vietnam, along with India, Kenya, and the Republic of Moldova, continues to hold the record in this respect for the 11th consecutive year.
This year's GII rankings list the competitiveness of 132 economies based on 81 sub-criteria compiled by WIPO, the Portulans Institute, the Brazilian National Confederation of Industry, the Indian Confederation of Industry, Ecopetrol (Colombia) and Turkish Exporters Association.
The top 4 countries with the highest innovation index in the world this year remained unchanged from last year. Specifically, Switzerland leads the table for the 11th successive year, followed by Sweden, the US and the UK. The remaining names in the Top 10 include the Republic Korea, the Netherlands, Finland, Singapore, Denmark and Germany.
The WIPO index shows that countries and businesses continue to increase investment in innovation, despite the COVID-19 crisis, to stimulate post-pandemic economic growth. WIPO Director General Daren Tang said that many areas have shown remarkable resilience, especially those that have undergone digitization, the application of advanced technology and innovation./.