Viet Nam ranked 42^nd among 131 economies for the second consecutive year in the 2020 Global Innovation Index (GII), the World Intellectual Property Organisation (WIPO) has announced.

Illustrative image (Photo: VNA)

In economies making the most significant progress in their GII innovation ranking over time, Viet Nam was first among 29 lower middle-income countries and third in Southeast Asia.

Compared to its own index last year, it posted higher levels in a number of indicators, including business sophistication, from 69^th to 39^th place, and creative output, from 47^th to 38^th.

It secured 19^th position in the global brands value indicator, a new feature this year, with 33 brands listed among the top 5,000 best brands.

Switzerland, Sweden, the US, the UK, and the Netherlands led in the innovation rankings. The top 10 was dominated by high-income countries.

GII’s indicators provide a comprehensive overview of the innovation landscape, including the political environment, education, infrastructure, and business development.

Viet Nam has used the GII as an important management tool since 2017, with its index rising from 71^st place in 2014 to 59^th in 2016 and 42^nd last year.

Source: VNA