Vietnam needs to focus on both the input and output aspects of innovation.

On the evening of September 26th (Vietnam time), in Switzerland, the World Intellectual Property Organization (WIPO) announced the Global Innovation Index 2024 (GII) report for 2024. According to the report, Vietnam was ranked 44th out of 133 countries and economies , an increase of two places compared to 2023.

The Global Innovation Index (GII) is a globally recognized tool for assessing national innovation capacity, reflecting the socio-economic development models based on science , technology, and innovation in various countries. Through this index, countries gain a comprehensive overview of their strengths and weaknesses. In recent years, the Vietnamese government has used this index as one of its important management tools and has assigned various ministries, agencies, and localities the responsibility of improving the index.

On this occasion, Minister of Science and Technology Huynh Thanh Dat spoke with the press about this achievement as well as the efforts needed to improve further in order to enhance the ranking and make positive contributions to socio-economic development based on science, technology, and innovation.

Minister, could you please provide the results of Vietnam's innovation index ranking for 2024, which have just been announced?

The World Intellectual Property Organization (WIPO) has just released the Global Innovation Index 2024 (GII) report for 2024. According to the report, Vietnam's GII ranking has improved by two positions compared to 2023, from 46th to 44th out of 133 countries and economies. Among lower-middle-income countries, Vietnam continues to maintain its second-highest ranking.

Some positive improvements include: in 2024, Vietnam led in three key indicators: high-tech imports, high-tech exports, and exports of innovative goods. For the first time, our country's exports of innovative goods reached the number one position in the world.

Notably, Vietnam's venture capital indicators are showing very positive growth. The number of venture capital deals increased by 27 ranks, placing Vietnam 50th out of 133 countries and economies. The number of deals receiving venture capital funding increased by 10 ranks, reaching 44th out of 133 countries and economies. These positive improvements are thanks to the close and decisive guidance of the Government and the Prime Minister, as well as the involvement of ministries, sectors, localities, and the science, technology, and innovation community. Businesses have also been proactive in researching and applying science and technology to their production and business activities, promoting innovation within enterprises.

Minister, could you please specify which indicators still need improvement in 2024?

In 2024, two key indicator groups showed no improvement: the institutional group and the human resources and research group. I believe that institutional issues require significant effort to improve conditions conducive to socio-economic development based on science, technology, and innovation. In particular, the current ranking of the quality of legal regulations is only 95th out of 133 countries and economies.

Regarding human resources and research, the education indicators have not shown much improvement and need to continue improving the quality of training to attract domestic and international students. In addition, the education model needs investment to meet international standards; the role of universities in cooperating with the business sector in research and development and innovation activities needs to be promoted.

It should also be noted that the ICT infrastructure index has not improved, ranking 72nd out of 133 countries and economies, failing to achieve the improvement target set by the Government Resolution.

According to the Minister, what solutions are needed in the future to maintain and further improve GII rankings in a sustainable manner?

To maintain and sustainably improve its GII ranking, Vietnam needs to focus on both the input and output aspects of innovation; paying particular attention to improving the groups of indicators that still have significant potential for development.

In my opinion, there are three groups of solutions that need to be implemented immediately to improve the GII index in the coming year. Firstly, it is necessary to build breakthrough and specific policy mechanisms that facilitate the development of science and technology and innovation so that science and technology and innovation truly become the main driving force of the economic growth model, promoting the development of the digital economy and digital society.

Secondly, enhance the capacity of businesses to proactively absorb advanced technologies from around the world, prioritizing environmentally friendly projects, linking with domestic and foreign businesses to participate in global value chains; and continue to develop the innovative startup ecosystem.

Thirdly, ministries and sectors, according to their assigned functions and tasks, need to identify and implement fundamental, comprehensive, and long-term solutions to improve the GII indicators that have consistently ranked low for many years. Local authorities need to actively implement solutions to improve the Local Innovation Index (PII); thereby contributing to improving the Global Innovation Index (GII) in the future.

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