GII 2021: Viet Nam leads the group of countries with the same income level

Wednesday, Sep 22, 2021 13:58

Illustration photo. — Photo

Viet Nam has ranked 44th out of 132 countries and economies in the Global Innovation Index (GII) and maintains its leading position out of the 34 lower-middle income economies.

The GII annually ranks 132 economies on their innovation ecosystems, highlighting both their strengths and weaknesses. Since its inception in 2007, the GII has become a cornerstone of economic policymaking. An increasing number of governments around the world analyse their GII results and shape policy in response.

The results of the 2021 Global Innovation Index were announced by the World Intellectual Property Organisation (WIPO) on Monday.

Along with Turkey (41st), India (46th) and the Philippines (51st), Viet Nam is one of four low-middle income countries assessed by WIPO as closing in on the higher tiers of the innovation index.

According to WIPO, all four Asian economies have raised up the ranks by an average of 22 positions over the past decade; Viet Nam has risen from 76th place in 2012 to 44th this year.

“Beyond China, these four particularly large economies together have the potential to change the global innovation landscape for good,” commented WIPO in the report.

The 2021 GII report notes that 19 economies are performing above expectations, relative to their level of development. Amongst them, Viet Nam, India, Kenya, and the Republic of Moldova hold the record for overperforming in relation to their level of development, for the 11th year in a row.

Ranked highest amongst the lower-middle income countries, Viet Nam scored above the group average in all seven of the GII's pillars of scoring. Highlighting Viet Nam's upward trajectory, Viet Nam even scored higher than the group average in the upper-middle income bracket in Market Sophistication, Business Sophistication, Knowledge and Technology Output and Creative Output.

For the 11th year in a row, Switzerland has topped the GII rankings, followed by Sweden, the US and the UK. All four countries featured in the top four last year too. — VNS

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