Vietnam in the top 15 most progressive countries and territories in Asia

Asia has dominated the global technology market over the past decade, accounting for more than half of global technology companies' revenue growth, according to a report by the McKinsey Global Institute.

Ranking the 15 most progressive countries and territories in Asia - INSIDER MONKEY

Asia is a significant contributor to key global growth indicators, including startup funding (43% of global), R&D spending (51%), and patent filings (87%). According to financial news site Insider Monkey, Asia has sparked a revolution in digital technology, driving economic growth in the region and creating opportunities to improve the lives of its people. Asia is also a hub for attracting science and technology talent. For example, from 2016 to 2018, India alone produced 75% of the world's STEM graduates - including Science, Technology, Engineering, and Mathematics. With advanced technological solutions, Asia has emerged as the leader in global renewable energy technology (energy from sunlight, rain, wind, tides...) with an installed capacity of 45%, surpassing Europe and the US by 2020.

The continent is expected to account for 56% of the market share by 2040, thanks to R&D and infrastructure that pave the way for investment in technological solutions. To compile the list of the 15 most advanced countries and territories in Asia, financial news site Insider Monkey used the Global Innovation Index (GII) and R&D spending as a percentage of GDP. The GII ranks countries and territories based on their innovation potential and capacity. The GII also assesses the countries' innovation landscape, technology adoption, and socio-economic aspects of development. Of the 15 countries and territories ranked, Israel ranked first, followed by South Korea and Taiwan. Vietnam ranked 15th.

List of 15 most progressive countries and territories in Asia:

1. Israel Global Innovation Index: 14 R&D spending as a percentage of GDP: 5.5% 2. South Korea Global Innovation Index: 13 R&D spending as a percentage of GDP: 4.8%. 3. Taiwan R&D spending as a percentage of GDP: 3.77% 4. Japan Global Innovation Index: 10 R&D spending as a percentage of GDP: 3.27% 5. China Global Innovation Index: 14 R&D spending as a percentage of GDP: 2.41% 6. Singapore Global Innovation Index: 5 R&D spending as a percentage of GDP: 1.85% 7. United Arab Emirates Global Innovation Index: 32 R&D spending as a percentage of GDP: 1.50% 8. Thailand Global Innovation Index: 43 R&D spending as a percentage of GDP: 1.33%. 9. Turkey Global Innovation Index: 39 R&D spending as a percentage of GDP: 1.09% 10. Malaysia Global Innovation Index: 36 R&D spending as a percentage of GDP: 0.95% 11. Jordan Global Innovation Index: 71 R&D spending as a percentage of GDP: 0.70% 12. Qatar Global Innovation Index: 50 R&D spending as a percentage of GDP: 0.68% 13. India Global Innovation Index: 40 R&D spending as a percentage of GDP: 0.66% 14. Saudi Arabia Global Innovation Index: 48 R&D spending as a percentage of GDP: 0.46% 15. Vietnam Global Innovation Index: 46 R&D spending as a percentage of GDP: 0.42%

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