The country also ranks 2nd out of 36 economies in the lower middle-income group, with a performance above expectation for the level of development.

Officials visit the IoT (Internet of Things) Innovation Hub at Hoa Lạc Hi-tech Park in Hanoi.

Vietnam continues to score above the lower middle-income group average in all innovation pillars, and even achieves the same result when compared to the average of the upper-middle-income group, apart from human capital and research.

It ranks first worldwide in high-tech imports.

Region-wise, Vietnam is placed 10th among the 17 economies in Southeast Asia, East Asia, and Oceania.

It is also included in the middle-income economies with the fastest innovation catch-up to date.

Vietnam is among the record-holders for outperforming in innovation for the 12th year in a row, alongside India, Kenya, and the Republic of Moldova.

Specifically, the Southeast Asian country performed best in creative outputs and weakest in human capital and research.

However, a slight fallback is witnessed, which emphasised the importance of sustaining innovation efforts over time.

Previously, Vietnam ranked 44th in 2021 and 42nd in 2020.

This year, the first place continues to belong to Switzerland, followed by the US in second and Sweden in third.

Published by the World Intellectual Property Organisation (WIPO), a specialised agency under the United Nations, the GII tracks the current state of innovation globally and ranks the innovative performance of 132 countries.

The 2022 focus is on the future of innovation-driven growth, analysing global innovation trends against the background of an ongoing pandemic, a slowing of productivity growth and other evolving challenges.

Two innovation waves in particular are identified as having the greatest potential to improve productivity and change lives for the better – the Digital Age and Deep Science.

Responses from WIPO member states last year revealed that more than 75 countries use the GII either to improve their innovation ecosystem, strengthen innovation metrics, or as a specific reference in economic policymaking.

Innovation key to enhancing businesses’ productivity

While innovation is considered as key to boosting the productivity and quality of products, due attention has not been paid to the issue by Vietnamese enterprises, experts have said.

Promoting innovation start-ups

(BGO) - Implementing the project "Supporting the national innovation start-up ecosystem until 2025", Bac Giang province has launched many mechanisms and policies to support businesses shifting from traditional production to new growth model based on productivity and innovation. As a result, many enterprises have expanded their investment and created quality products.

Bac Giang focuses resources on science-technology and innovation

(BGO) - In the process of development and integration, Bac Giang identifies science-technology and innovation as a breakthrough to improve productivity, quality and competitiveness of goods. From vivid reality, science-technology and innovation continue to be seen as the leading driving force for Bac Giang's rapid and sustainable development.

Vietnamese women’s contributions to innovation, integration and development

Throughout Vietnam’s history, women have upheld patriotism and indomitability, with bright examples like the Trung sisters, Ba Trieu and woman general Le Chan, or revolutionaries Nguyen Thi Minh Khai, Vo Thi Sau. During peace time, Vietnamese women have affirmed their roles in all aspects of social life, carrying on the fine traditions.

MoU inked on establishment of Vietnam-Singapore Industry 4.0 Innovation Centre

A Memorandum of Understanding (MoU) on the establishment of the Vietnam-Singapore Industry 4.0 Innovation Centre has been inked within President Nguyen Xuan Phuc’s State visit to Singapore.

Source: VNA