Vietnam News Today (Sep. 27): Vietnam Up Two Notches in Global Innovation Index Ranking

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Representatives of the Vietnam Trade Promotion Agency (Vietrade) and the SPIRIT Slovenia Business Development Agency at the signing ceremony of their Memorandum of Understanding (MoU) on cooperation. (Photo: VNA)

Vietnamese, Slovenian trade agencies seal cooperation pact

The Vietnam Trade Promotion Agency (Vietrade) and the SPIRIT Slovenia Business Development Agency signed a Memorandum of Understanding (MoU) on cooperation at a bilateral trade forum organized in Hanoi on September 26.

The countries aim to establish a stable and sustainable collaboration mechanism under the MoU, and set out plans for future promotion activities to strengthen and expand economic and trade relations.

At the forum, Vietrade Director Vu Ba Phu said the implementation of the EU-Vietnam Free Trade Agreement (EVFTA) has driven remarkable growth in the Vietnam-Slovenia commercial transactions, with their bilateral trade increasing more than 12-fold from 46.1 million USD in 2012 to over 516 million USD in 2023.

As of August 2024, Slovenia ranked 92nd out of 146 countries and territories investing in Vietnam, with three valid projects totaling 2.3 million USD in registered capital, cited VNA.

Phu noted that Vietnam could serve as a gateway for Slovenian businesses to access ASEAN markets and the Asia-Pacific region. Conversely, Slovenia, with its strengths in seaports and logistics, could act as a key bridge for Vietnamese goods to penetrate the EU market, particularly in Eastern and Southeastern Europe.

Strengthening the bilateral economic and trade ties and capitalizing on the EVFTA will bring significant benefits and opportunities to the business communities of both countries, Phu remarked.

Experts at the forum held that despite the impressive growth, bilateral trade volume remains modest. There is significant potential for expanding trade and cooperation, as their export-import structures are complementary rather than competitive.

Vietnamese and Slovenian enterprises should build and diversify their supply chains, particularly in sectors where each side has strengths, such as Vietnam's farm produce, textiles, footwear, furniture, and household items, and Slovenia's logistics, chemicals, pharmaceuticals, electronics, and machinery.

Vietnam up two notches in Global Innovation Index ranking

Vietnam has been ranked 44th out of 133 countries and economies in the Global Innovation Index 2024 report, up two notches compared to the 2023 ranking.

According to the report released by the World Intellectual Property Organization (WIPO) on September 26, Vietnam sees an improvement in the Innovation Input Sub-index, rising four notches to 53rd position. The Innovation Input Sub-index comprises five pillars: Institutions, Human capital and research, Infrastructure, Market sophistication, and Business sophistication.

The country’s Innovation Output Sub-index also edges up by four notches compared to 2023, rising to 36th position. The Innovation Output Sub-index comprises two pillars: Knowledge and technology outputs, and Creative outputs.

Vietnam maintains its second position among low-middle-income countries. The low-middle-income country ranked above Vietnam is India, at 39th place.

The WIPO report shows Vietnam is among the middle-income economies that have the fastest in the GII ranking since 2013, alongside China, Turkey, India, the Philippines, Indonesia, Iran and Morocco.

Vietnam is also one of three countries that have consistently outperformed their development level for 14 consecutive years, alongside India and Moldova, according to VOV.

Innovation is key to national development in Vietnam (Illustration)

For 14 years in a row, the Southeast Asian country has consistently achieved higher innovation results compared to its level of development, demonstrating effectiveness in converting input resources into innovation output.

Its scores in various pillars are higher than those of countries in the low-middle-income group and even exceed those in the high-middle-income group, except for the second pillar that is Human Capital and Research.

Notably, in 2024, the country has three indicators that rank first in the world: high-tech imports, high-tech exports, and creative goods exports. Additionally, it has three indicators in the top 10 globally: labor productivity (ranked 3rd), number of smartphone applications (ranked 7th), and the share of research and development spending covered by businesses in total R&D expenditure (ranked 9th).

In a recorded statement during the GII 2024 report launch, Vietnamese Prime Minister Pham Minh Chinh emphasized that innovation is an objective necessity, a strategic choice, and a top priority for countries aiming for rapid and sustainable development, ensuring that no one is left behind.

“In the innovation process, Vietnam identifies the perspective of placing people at the center, making them the key players, so that citizens genuinely benefit from the results of innovation,” he said.

According to the PM, innovation impacts everyone and it is a global issue that requires a global approach and an inclusive strategy.

“Vietnam identifies education-training, and science - technology as the top national policy, with innovation serving as both a driving force and a resource, as well as a goal for development.

“We highly value the support from international organizations, including WIPO, as well as scientists and experts who collaborate with us in promoting innovation to drive rapid and sustainable development for our country,” stated the PM.

Vietnamese top leader visits Mariel Special Development Zone

General Secretary of the Communist Party of Vietnam (CPV) Central Committee and State President To Lam and a high-ranking delegation of Vietnam on September 26 morning (local time) visited the Mariel Special Development Zone (ZEDM), the first free trade and export processing zone of Cuba, as part of his ongoing state visit to the Caribbean country.

First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz Canel Bermudez also joined the activity.

ZEDM General Director Ana Teresa Igarza Martínez said the zone is located at Mariel port in Artemisa province, covering an area of about 465 sq.km. Vietnam holds the distinction of being the second largest investor in the ZEDM, with notable projects such as the ViMariel Industrial Park, the first and only economic zone in Cuba invested by a Vietnamese enterprise, VNA reported.

General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam (C) and First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz Canel Bermudez (R) visit the ZEDM. (Photo: VNA)

Diaz-Canel Bermudez praised Vietnamese enterprises' operations in the ZEDM, describing them as evidence for the special traditional friendship between the two countries and the promising future of their economic cooperation.

Expressing gratitude for Vietnam's unwavering support, he hoped for continued success in the bilateral relations.

Lam praised the ZEDM as a promising economic model, noting its potential to test innovative policies before scaling them up nationwide. He believed this approach will generate stronger momentum for Cuba's economy, helping it overcome current challenges.

Vietnam will never forget the sentiments Cuba had reserved for Vietnam in the past, he said, affirming that the policy of the Vietnamese Party, State, and investors is to actively contribute to Cuba’s current construction and development.

The ZEDM offers a broad spectrum of promising investment opportunities in various key sectors, including biotechnology, pharmaceutical research and production, packaging, renewable energy, agriculture, food industry, general industry, information technology, communications, tourism, real estate, and infrastructure development. Products from these investment projects are positioned not only for the domestic market but also for export to regional countries.

With its comprehensive, modern, and highly connected infrastructure, the ZEDM stands as an attractive destination for international investors, including those from Vietnam. The zone serves as a strategic gateway for businesses seeking to establish presence in the Latin American, Caribbean, and South American markets, which are poised for substantial growth in the coming years.

Later, the two leaders visited several projects in the ZEDM, including the ViMariel Industrial Park.

On this occasion, they witnessed the announcement of granting investment licenses to two Vietnamese enterprises, namely the Thai Binh Global Investment Joint Stock Company and the ATG Fertilizer Company.

Vietnamese war film "Peach Blossom, Pho and Piano" vies for Oscar title

The Ministry of Culture, Sports and Tourism has selected the film “Dao, Pho and Piano” (Peach Blossom, Pho and Piano) as its official nomination to compete in the best international feature film category at the 97th Academy Awards (Oscar).

Earlier, the Department of Cinema received an invitation from the American Academy of Motion Picture Arts and Sciences (AMPAS) to submit one movie representing Vietnam for the preliminary round of the best international feature at the 97th Academy Awards which is set to take place in Los Angeles, the US.

Vietnamese artists in the film.

The department called for submissions on its website - cucdienanh.vn - and received four registrations, including "Dao, Pho and Piano", “ Cai gia cua hanh phuc” (The Price of Happiness), "Lat Mat 7: Mot dieu uoc" (Face off 7: One wish), and "Mai".

On September 23, the National Council for Film Selection discussed and decided to choose the state-funded war film "Dao, Pho and Piano" which portrays a young couple’s journey to reunite on February 17, 1947, the last day of the 60-day Battle of Hanoi which signaled the start of the First Indochina War, cited VOV.

Directed by Phi Tien Son and commissioned by the Cinema Department, the film was produced by the Film No. 1 Joint Stock Company at a cost of 20 billion VND (815,080 USD).

The film won the Silver Lotus Award at the 23rd Vietnam Film Festival held in Lam Dong province in November 2023.

Google seeks cooperation with Vietnam in AI development

Party General Secretary and State President To Lam met with Karan Bhatia, Vice President for Government Affairs and Public Policy at Google on the sidelines of the United Nations General Assembly meeting in New York on September 25 (local time).

Lam emphasized that Google and its partners’ continued expansion of operations in Vietnam reflects the country’s increasing importance to both consolidating the supply chain and developing the market for the group’s products.

Pledging favorable conditions for US firms to operate in Vietnam, he called on Google to continue guiding its suppliers to expand investment and business activities in the country, and help local companies improve their capacity and join in its supply chain.

He applauded Google’s cooperation proposal on training AI manpower, and asked it to work with the Vietnam National Innovation Center, agencies, institutes, and schools in the country to carry out concrete and fruitful projects to practically benefit both sides.

The Vietnamese leader also highly valued the group’s cooperation proposal on cybersecurity, which is a particularly critical area as the Fourth Industrial Revolution is strongly affecting every aspect of the economy, VNS reported.

Party General Secretary and State President To Lam (right) shakes hands with Vice President for Government Affairs and Public Policy at Google Karan Bhatia. Photo: Lam Khanh

Bhatia affirmed Google’s commitment to the partnership with Vietnam. He announced that the firm has opened a new office in HCM City this year while its mobile phone and component manufacturing establishments in Vietnam are operating efficiently.

He expressed his hope to cooperate with the country in AI development, a sphere of Google’s strength that could be greatly useful to Vietnam.

Google is expanding skill training in the Southeast Asian nation to foster AI-related collaboration, and also giving policy advice to help facilitate AI development, Bhatia noted, adding that it expects to assist Vietnam in integrated cloud computing and AI services, and step up cybersecurity collaboration.

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