Vietnam ranks 46th among the 132 economies featured in the Global Innovation Index (GII) 2023 rankings, up two positions from last year, according to the World Intellectual Property Organisation (WIPO).

The country ranks second among the 37 economies in the lower middle-income group, behind India; and fourth in ASEAN, after Singapore, Malaysia and Thailand.

This year Vietnam ranks 57th in innovation inputs, which is two notches higher than last year, while the position in innovation outputs climbed one place to number 40.

According to WIPO, Vietnam is one of the seven middle-income countries with the most progress in innovation in the past decade, along with China, Turkey, India, the Philippines, Indonesia, and Iran.

Vietnam is also one of the three countries that are performing above expectations for its level of development, with the other two being India and Moldova.

Vietnam’s main innovation strengths are high-tech exports, labour productivity growth and high-tech imports.

GII is a ranking of the innovation capabilities and results of world economies based on criteria including institutions, human capital and research, infrastructure, credit, investment, linkages; the creation, absorption and diffusion of knowledge; and creative outputs.

Since 2017, Vietnam’s rankings have improved continuously from the 59th position in 2016 to 46th in 2023.

The most innovative countries in 2023 are Switzerland, Sweden and the United States.