Malaysia Up Two Spots From 35th to 33rd Place for Two Years Consecutively
The 2020 Global Innovation Index (GIL) ranked Malaysia in 8th position in Asia and 33rd spot globally.
Going Strong Two Years in a Row
This new ranking in the Global Innovation Index 2020 makes Malaysia the second most innovative country in Asia behind China. The report was released by the World Intellectual Property Organisation (WIPO). 133 countries were involved in the report. The theme for 2020 was Who Will Finance Innovation.
The Five Pillars of Achievement
Malaysia managed to obtain this ranking because it successfully achieved five out of the GILs seven pillars of achievement. Malaysia’s ranking is thanks to:
- Market sophistication
- Human capital and research
- Business diversity
- Technology and knowledge output
- Creative output
Comparing against other Asian economies, Malaysia’s economic performance is above average.