Global Innovation Index Ranking Improves

On September 26, 2024, the World Intellectual Property Organization (WIPO) released the latest Global Innovation Index (GII) report in Geneva, Switzerland. The report shows that Vietnam ranks 44th among 132 countries, up two places from last year. This progress reflects Vietnam’s continuous efforts and achievements in innovation.

Analysis of Leading Indicators

In an interview, Vietnam’s Minister of Science and Technology, Hoang Thanh Dat, pointed out that Vietnam performed exceptionally well in three important indicators in 2024. High-tech imports, high-tech exports, and creative goods exports all maintained leading positions. Notably, the creative goods exports index reached first place globally for the first time, marking significant progress in Vietnam’s creative economy.

Breakthrough in Venture Capital

Minister Hoang emphasized the positive development in the venture capital index. Among 133 countries and economies, Vietnam’s ranking for the number of venture capital deals rose 27 places to 50th, while the ranking for the number of deals receiving venture capital funding increased by 10 places to 44th. These improvements are attributed to strong government guidance, active participation from various sectors, and businesses’ initiative in research and innovation.

Areas for Improvement

Despite numerous advancements, Hoang Thanh Dat noted that some indicators still need further improvement in 2024, such as the Human Capital & Research index and the Information and Communication Technology (ICT) Infrastructure index. Enhancing these areas will be a focus for Vietnam’s future innovative development.

Future Development Strategy

To further improve Vietnam’s Global Innovation Index ranking, Hoang Thanh Dat proposed three key sets of solutions:

• Formulate special policy mechanisms: Promote science and technology innovation as the main driver of economic growth, fostering the development of the digital economy and digital society.
• Enhance enterprise capabilities: Encourage businesses to master advanced technologies, develop environmentally friendly projects, participate in global value chains, and continue to improve the innovation and entrepreneurship ecosystem.
• Sectoral coordination and local action: Various sectors implement long-term measures according to their functions to improve lagging indicators; local governments actively enhance their Provincial Innovation Index (PII), contributing to the overall improvement of national innovation capabilities.

Conclusion

Vietnam’s progress in the Global Innovation Index reflects the country’s ongoing efforts in science and technology innovation. Through strategic government guidance, active business participation, and collaborative efforts across sectors, Vietnam is steadily enhancing its innovation capabilities and international competitiveness.