“Việt Nam ranks 44th among the 133 economies featured in the Global Innovation Index 2024, published by the World Intellectual Property Organisation (WIPO), an encouraging two-place rise from the previous year.
Particularly noteworthy is the country’s leap in the high-tech industry output index, with the country now ranked 28th globally.
However, Việt Nam’s R&D expenditure remains modest, at just 0.4 per cent of GDP in 2023 – far below the global average of 2.3 per cent and trailing behind regional peers such as China (2.5 per cent), Singapore (1.9 per cent), and Malaysia (1 per cent).
This under investment reflects a shortage of high-quality technical professionals and limited access to capital for innovation-led enterprises.” – Viet Nam News
Source: Investments In Workforce Training, Research And Development Needed
