Leading the same income group

According to the Ministry of Science and Technology, the report by the World Intellectual Property Organization (WIPO) published on September 20 moved Vietnam up to 44th place from 42nd in 2019 and 2020 after updating its GDP figures according to Vietnam's new calculations (up about 36 percent compared to 2020).

According to the WIPO, Vietnam's innovation sector has shown positive signs

The report describes Vietnam as “one of the 50 GII economies that have made the most significant progress in innovation ratings over time. Together with China, Turkey, India and the Philippines, Vietnam has real potential to change the global innovation situation in the coming years. That's the key for other countries to learn from and join the group of countries constantly going up in innovation.”

Marco Aleman, Assistant WIPO Director and head of the Department of Solar and IP Ecosystems, noted, “Vietnam continues to be an example for other developing countries in considering innovation as a national priority. The government's use of GII as a tool to measure and evaluate the effectiveness of the country's innovation is the clearest example yet that Vietnam is aware of the importance of innovation for national development. Other countries are learning from Vietnam how to systematically use GII to assess changes in innovation performance at the highest level.”

Sustainable direction

According to WIPO, Vietnam's seven GII pillars are higher than the average of the group of countries in the same income group and it has maintained higher innovation results than its development level for over 10 consecutive years, demonstrating effectiveness in converting input resources into innovation output.

Investment in innovation is a sustainable way to fight the Covid-19 pandemic

Deputy Minister of Science and Technology Bui The Duy said the global Covid-19 pandemic has had a significant impact on the economy, from production, business, research and development as well as innovation activities, and Vietnam is no exception. However, WIPO assesses that investment in innovation has been maintained over the past two years, proving that investment in innovation is one of the sustainable directions for the world as well as Vietnam to fight the Covid-19 pandemic, Deputy Minister Duy emphasized.

According to a representative of the Ministry of Science and Technology, the rankings can be attributed to various factors including the government’s use of the GII as an important management tool since 2017, assigning ministries, agencies and localities to improve this index. The Ministry of Science and Technology is tasked with monitoring and coordinating these activities.

Innovation results of each country are closely related to the level of development and performance of the innovation system and its connection with other countries/economies. Improved innovation results on a sustainable basis require long-term solutions and participation and coordination of the entire political system, giving priority to a new level of development in which science, technology and innovation are driving forces of economic growth.