The Ministry of Science and Technology (MoST) held a conference discussing the ranking in Hanoi on July 13.

As heard at the function, Vietnam’s GII topped the 27 lower-middle income countries on the list and was ranked third among ASEAN member states, behind Singapore and Malaysia. 

In comparison with the 2016 report, Vietnam climbed 8 places in innovation input sub-index ranking, with improvement recorded in the categories of macro institutions, human capital and research, infrastructure, and market sophistication.

The country also went up 4 places in the innovation output sub-index ranking in both knowledge-technology and creative outputs.

Speaking at the conference, MoST Deputy Minister Tran Quoc Khanh attributed the outcomes to efforts made by the Party, Government and public agencies at different levels with technological support from the World Intellectual Property Organisation (WIPO).

He said the country needs to continue improving innovation index in terms of business climate, capital market and investment, and knowledge-technologies application, adding that enterprises are at the centre of the national innovative system.

The GII report is annually co-published by the WIPO, US-based Cornell University and France-based INSEAD business school. It uses about 79 indicators to gauge both innovative capabilities and measurable results.