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Reports from GII 2023 show that Vietnam this year ranks 57th in innovation inputs, a rise of two compared to 2022 (regarding the five pillars of institution, human capital and research, infrastructure, market sophistication, business sophistication). Similarly, it sees a growth of 1 position to the 40th in innovation outputs (as to the two pillars of knowledge and technology outputs and creative outputs).
Vietnam maintains its second position among the Low-Middle-Income economies, preceded by India. Only five nations with the high-middle income have higher rankings than Vietnam, others are all developed countries with high income. In the ASEAN, Vietnam stays after Singapore (at the 5th position), Malaysia (36th position), and Thailand (43th position).
WIPO comments that Vietnam is one of the 7 middle-income countries in the world to experience the most improvements this decade and one of the three with impressive achievements in 13 consecutive years.
In 2023, GII has some changes in its components and data sources, including one new index of ‘Values of unicorn startups’ where Vietnam occupies the 33rd position.
The value of venture capital deals, though still small, shows great improvements compared to 2022, leading to a rise of 17 rankings to the 60th. Businesses have continuously invested into implementing quality control according to the ISO, resulting in an increase of 15 positions to the 50th this year as to ISO 9001/PPP$GDP.
The Vietnamese Government has lately used GII as an important management tool, and has asked relevant ministries, state agencies, as well as local authorities to strive to improve the country’s positions in GII. Since 2017, there has been a consecutive growth in the overall ranking of Vietnam in GII from the 59th in 2017 to 46th in 2023.
GII is a prestigious tool to evaluate the innovation capacity and socio-economic growth of a country based on its science, technology, and innovation aspects. GII shows both the strengths and weaknesses of a country for further development.
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