Innovation – a driving force for development

Vietnam has led the group of middle and lower-income economies in terms of Global Innovation Index (GII) this year, according to a report released on June 15 by the World Intellectual Property Organisation (WIPO), Cornell University and the INSEAD graduate business school.
In total, Vietnam ranks 47th among 127 countries and economies across the globe and is ninth place in the Southeast Asia, East Asia and Oceania region.
This is the highest GII ranking that Vietnam has held over the past 10 years. Over the past five years, Vietnam has climbed 29 places in the GII ranking, from the 76th place in 2013 to 71st in 2014, 52nd in 2015, 59th in 2016 and 47th in 2017.
The country has demonstrated the advantages it has in indicators such as market sophistication, business sophistication, knowledge and technology outputs, creative outputs and expenditure on education.
A country’s GII has a close relation to its economic growth and technological development. The index has established itself as a better and more trustworthy tool in evaluating innovation, as compared to traditional measurements, such as the number of released research and journals, patent statistics, and expenditure on research and development.
Aware of the significant role played by innovation in promoting socio-economic development, the government, on February 6, 2017, issued Resolution No. 19-2017/NQ-CP which aims to improve the business environment and strengthen national competitiveness.
Targets set in the resolution are built based on the integration of the following four aspects and are ranked by their respective organisations; ease of doing business by the World Bank, national competitiveness by the the World Economic Forum and innovation capacity and e-government development by the United Nations.
In addition, the Government has tasked the Ministry of Science and Technology as the instructor for, and coordinators between, the relevant ministries, sectors and localities on how to conduct research and use the annual GII reports to work out measures on enhancing the business environment and competitiveness.
The government has also detailed the responsibilities of each agency and department and has kept a close watch on the progress of their assigned tasks. Data has been supplemented and updated in order to make a comprehensive evaluation of the country’s innovation capacity.
Innovation is a long-term process which has served as the driving force for development, as well as the measurement of determination and performance of the Vietnamese State, businesses and the science and technology community.
Vietnam’s latest ranking on the GII is the fruitful outcome gained from the implementation of the Government’s Resolution No. 19/2017/NQ-CP. It is also a result of the joint effort to improve the business environment, enhance competitiveness and innovation capacity, to renovate the growth model, and encourage creativity and science and technology activities.
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All comments [ 10 ]

John Smith 17/6/17 21:08

Traditionally innovation and entrepreneurship are seen as drivers of jobs and competitiveness, however we think it can also be an important driver of inclusiveness and social development.

Gentle Moon 17/6/17 21:11

Developing countries are beginning to see innovation and entrepreneurship as a solution to their social challenges as it continues to drive most of the significant improvements in quality of life.

LawrenceSamuels 17/6/17 21:12

he speed of innovation and the extent to which social impact is achieved also depends on the opportunities for public-private dialogues and collaboration.

Jane smartnic 17/6/17 21:12

We see innovation happening despite the lack of a conducive policy environment in many countries.

yobro yobro 17/6/17 21:13

To achieve larger impact it’s important for countries to pursue policies that promote partnerships between governments and the private sector for solving social issues and delivering services to citizens.

Love Peace 17/6/17 21:18

The key driving force of economic competitiveness is innovation, while to a great extent the digital sector drives economic growth.

MaskOf Zero 17/6/17 21:19

Boosting innovation and creativity depends, of course, on each and every one of us – on our individual behavior and attitudes; but the important work must be done on a mass scale by individuals and communities.

Only Solidar 17/6/17 21:21

We must also strengthen societies’ openness and social inclusion – making sure that each and every individual in society can be heard without prejudice, and that each individual – regardless of age or sex – may have the opportunity to be active in the economy.

Pack Cassiopian 17/6/17 21:22

It follows that we need to cultivate a culture of team-work; in the era of creative networks, individual genius is sometimes not enough to achieve breakthrough success.

Deck Hero14 17/6/17 21:25

Innovation can be created by any person who is innovative in spirit and who possesses a frame of mind capable of exploring existing boundaries.

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