Connect with us

What are you looking for?

ECONOMY

Vietnam rises two places in Bloomberg innovative economy index

Vietnam has moved up two places to 55th in the list of the world’s 60 most innovative economies compiled by Bloomberg, but lags far behind Asian peers.

With an overall score 49.01 out of 100, Vietnam fared badly in the against countries such as Singapore (2nd), Malaysia (26th) and Thailand (36th) in the annual Bloomberg Innovation Index.

The ranking measures the world’s 60 most innovative countries based on seven criteria: research and development intensity, productivity, patent activity, concentration of researchers and tertiary efficiency, hi-tech density, and value-added manufacturing.

Vietnam raked highest, 40th, in hi-tech density, 44th in both tertiary education efficiency and patent activity, 43rd in research and development intensity, and 55th in value-added manufacturing.

It did not fare well in concentration of researchers (56th) and productivity (59th) either.

Based on purchasing power parity at 2011 constant prices, Vietnam’s labor productivity is at $4,792, lower than that of Singapore, Malaysia, Thailand, Indonesia, and the Philippines, according to official statistics.

Vietnam has been focusing on developing hi-tech products in recent years as it seeks to have 500 manufacturers of hi-tech products and 200 agriculture companies using hi-tech applications by 2030.

South Korea returned to first place in this year’s ranking, followed by Singapore and Switzerland.

Vnexpress

MANUFACTURING

The manufacturing sector took some hard hits last year. COVID-19 impacted supply chains, compromised workforce safety, and changed both channels to market and consumer...

CORPORATE

Vingroup will pour an additional $300 million into the US market, to prepare for the sale of its new electric car models and smartphones....

ECONOMY

Total new orders increased for the eighth month running, and at the fastest pace in close to two-and-a-half years. The Vietnam Manufacturing Purchasing Managers’...

CORPORATE

Audi partners with SAP, AWS, Capgemini and the XL2 joint venture as part of its Automotive Initiative 2025 for digital factory transformation. Collaborating closely...

Scroll Up