Vietnam ranks 59th in the Global Innovation Index (GII) 2016, down seven notches compared to last year.

This year, the nation scores 35.4 points on a scale of 100 points in terms of innovation in the GII 2016 survey conducted by the World Intellectual Property Organization (WIPO) under the United Nations (UN), Cornell University and Insead Business School.

GII 2016 surveyed 128 countries using 82 indicators in seven main categories including institutions, human resources and research, infrastructure, market factors, business environment, brainpower and technology products, and innovative products.

The top five are Switzerland, Sweden, the United Kingdom, the U.S. and Finland.

The GII was launched in 2007 by Insead and then attracted the participation of many other partners. 

The annual report helps capture the multi-dimensional facets of innovation and is seen as a useful tool that can assist in making policies to promote long-term output growth, productivity improvement, and job growth. It helps create an environment in which innovation factors are continually evaluated. 

The GII was described by UN Secretary General Ban Ki-moon while speaking at the Committee for Economic and Social Affairs of the United Nations in 2013 as a unique tool to help improve innovation policy and provide an accurate picture of the role of science, technology and innovation in sustainable development.

SGT