In addition to achievements in terms of innovation rankings, Vietnam still has many indicators that need to be improved upon, according to the Global Innovation Index (GII) Report 2021 released by the World Intellectual Property Organization (WIPO).

Vietnam saw outstanding results in 2021 in terms of market development as well as strong progress in trade, diversification, and market size indicators. It is highly regarded in terms of credit indicators. In the index group of innovation linkages, the index of university-enterprise cooperation in research and development also increased. Though Vietnam has been heavily affected by the pandemic, investment in innovation has been maintained.

According to Mr. Bui The Duy, Deputy Minister of Science and Technology, Vietnam's Global Innovation Index 2021 has demonstrated that Vietnam has achieved many achievements related to science, technology, and innovation in responding to the Covid-19 pandemic as well as preventing disruptions in the business production and restore the economy

Many innovation indicators, however, still need to be improved. For example, even though information and communications technology (ICT) infrastructure and services have made progress, they have not kept up with general development and still lag behind many countries.

The creative industry has shown positive signs, but overall has not been focused upon and does not have a clear development strategy. Investment activities in general and in research, development, and innovation in particular are still low.

Mr. Andrew Michael Ong, a representative from WIPO’s Asia-Pacific regional office, said Vietnam needs a strategic goal in promoting a variety of innovations and also needs to focus on promoting technology application in enterprises to improve productivity and competitiveness.