With an overall score 47.64 out of 100, Vietnam has jumped three places from last year to 57th on the annual index released by Bloomberg, the US-based financial, software, data, and media company.

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

Vietnam’s highest scores were in hi-tech density, tertiary education efficiency and patent activity. In this year’s Bloomberg index, Germany surpassed South Korea to become the world’s most innovative economy.