Vietnam has leapt two places in the Global Innovation Index (GII) in 2024, ranking 44th out of 132 countries and territories, according to a GII report released by the World Intellectual Property Organisation (WIPO) on September 26.

For 14 consecutive years, Vietnam has consistently achieved higher innovation results compared to its level of development.

The report takes the pulse of innovation against a background of steady but slow global economic growth, shrinking innovation finance and sluggish productivity. It reveals the most innovative economies in the world, ranking the innovation performance of around 130 economies while highlighting innovation strengths and weaknesses.

According to the report, Vietnam has three indicators that rank first in the world this year, including high-tech imports, high-tech exports and creative goods exports.

The country has jumped from 57th position last year to 53rd position this year in terms of Innovation Input Sub-index which comprises five pillars: Institutions, Human capital and research, Infrastructure, Market sophistication and Business sophistication.

Vietnam’s Innovation Output Sub-index also edges up by four notches compared to 2023 to the 36th position. It comprises two pillars: Knowledge and technology outputs, and Creative outputs.

Vietnam maintains the second position among low middle-income countries.

The report also shows that Vietnam is one among the eight middle-income economies that have the fastest in the GII ranking since 2013.