Accordingly, Vietnam is ranked the first in the group of 26 low-to-average-income nations and the third in ASEAN, preceded by Singapore and Malaysia. This is a 17-spot increase compared to 2016.
This year, the computation method of GII has changed to include 21 index groups and 80 minor indexes.
Certain detailed indexes that have gained notable rises are market growth level (an increase by 3 places), credit (4 places), working performance (3 places), total spending on research and development (5 places), and products based on knowledge and technology (8 places).
This impressive result of Vietnam shows the great efforts of all ministries, state units, and industries in the task of preparing and implementing synchronous practical solutions to improve the national business environment in order to boost competitiveness as well as innovation capability of the country.
For a sustainable position growth in the GII, Vietnam should focus more on the input factors of innovation, especially the indexes of information technology (IT) infrastructure, IT application, business environment improvement, legal regulation quality, and human resources upgrade.