Vietnam ranks 45th in Global Innovation Index

Lloyd Doyle
July 13, 2018

Rounding out the GII 2018 top 10: The Netherlands, Sweden, the United Kingdom, Singapore, United States, Finland, Denmark, Germany and Ireland.

Kenya was noted to have achieved high levels of innovation relative to its level of development, continuously since 2011.

United Nations, Jul 10 India slightly improved its rank in an index of the world's most innovative economies, maintaining its position as the top exporter of IT services but still lagging in parameters of ease of starting a business, political stability and safety, and female employees with advanced degrees in the workforce.

Now in its 11th edition, the GII is a detailed quantitative tool that helps global decision-makers better understand how to stimulate the innovative activity that drives economic and human development.

While the United States fell back to number six in the GII 2018, it is an innovation powerhouse that has produced numerous world's leading hi-tech firms and life-changing innovations.

WIPO Director General Francis Gurry said Tuesday that China's ranking represents a breakthrough for its economy, which is rapidly transforming and prioritizing research and ingenuity. In the indicators that capture the quality of innovation input and output, the country is ranked second after China in the lower and upper middle-income group combined.

South Africa topped the list of the most innovative economies in Africa followed by Mauritius and Kenya thanks to policy incentives coupled with investments in modern technologies, skills upgrade and scientific research.

Africa's most innovative economies were able to attract higher foreign direct investments that translated into more jobs for the youth and increased revenue streams to support social sectors like education and health.

Despite being ranked on the lower end, India remains the top performer in the lower middle-income group, where it takes the secured fifth spot.

Indonesia, Malaysia, Thailand, and Vietnam continue to move up the rankings, steering closer to regional powerhouses like China, Japan, Singapore and Republic of Korea.

This year's theme is "Energising the world with Innovation".

According to GII, access and application of information and communications technology (ICT) in Nigeria was at 28.2 percent and 18.1 percent in 2016, with government's e-service and e-participation at 30.7 percent and 33.3 percent. India's Confederation of Indian Industry (CII) is one of the knowledge partners which assists the GII team in bringing out the annual ranking.

Other reports by Iphone Fresh

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