Vietnam has been ranked 42nd for the second straight year out of 131 world economies in the Global Innovation Index (GII) 2020 rankings, VnExpress reported, citing the World Intellectual Property Organisation (WIPO)’s list released on September 2.

A student is in science class. Photo: HM

Accordingly, Vietnam is among the 10 best-ranked economies in terms of income group, and leads the group of lower-middle income economies, made up of 29 countries.

Furthermore, Vietnam has been also listed among the top 50 economies that have witnessed remarkable progress in the GII rankings in recent years.

In 2019, Vietnam reached the 42th post among 129 economies, which climbed three positions compared to 2018. This was the highest rank that Vietnam had ever achieved.

In a recent speech, Minister of Science and Technology Chu Ngoc Anh said that the Vietnamese government considers innovation as a new field in state management, a new pillar in socio-economic development and for the first time, the innovation index becomes a criterion to measure efficiency of the annual business environment and national competitiveness.

The Global Innovation Index is a set of tools to evaluate the innovation capacity of nations in the worl, implemented by WIPO in collaboration with INSEAD Institute, France and Cornell University (the US).

This year has seen Switzerland top the GII 2020 rankings, marking the 10th consecutive year that the Central European nation has led the list, followed by Sweden and the US.