Thailand remains 43rd in Global Innovation Index 2023 ranking
The World Intellectual Property Organisation (WIPO) has released the Global Innovation Index 2023 (GII 2023) on the theme “Innovation in the Face of Uncertainty”.
The index assesses the innovation capabilities of 132 economies worldwide. Thailand remains in 43rd place, maintaining its ranking from the previous year. This places Thailand at 3rd position in Asean, following Singapore (5th) and Malaysia (36th). However, there have been movements in various categories, with Thailand notably rising to 22nd position in Market Sophistication out of 132 countries.
Rachapruk Phakka, director of the National Innovation Agency (NIA), noted that Thailand performs well in several factors compared to the global average. In the East and Southeast Asia region, Thailand is 9th out of 16 countries and continues to hold the 3rd position in Asean.
Thailand’s strengths lie in research, with a significant number of researchers capable of creating diverse innovations. Furthermore, private sector investment in research and development is robust.
WIPO also ranked cities in the GII Science and Technology Clusters. Bangkok expanded the most among cluster cities, although it has not yet entered the top 100. Science and Technology Clusters are vital components in evaluating a country's innovation ecosystem.
Supamas Isarabhakdi, Minister of Higher Education, Science, Research and Innovation, stressed the importance of private sector strength. The government plays a crucial role in creating awareness and promoting collaboration to propel Thailand towards becoming an innovation nation, aiming for a GII rank of 30 by 2030.
To achieve this goal, Thailand is focusing on six strategies:
1. The government becoming a sandbox and accelerator for innovation
2. Accelerating investment in innovation linked with the utilisation of research
3. Stimulating innovation financial markets and technology capital markets
4. Increasing the number of innovative start-ups to reform business structure
5. Encouraging patent registration and utilising patents to increase the value of goods and services
6. Enhancing innovative ideas and culture, particularly in the tourism, food, fashion, and entertainment industries
Natchanika Jidnarong, an expert in industrial property at the Department of Intellectual Property, emphasised the importance of patent registrations. Countries with high innovation indices, such as Malaysia and Singapore, have a considerable number of registered intellectual properties. This indicates the significance of entrepreneurs and innovators in Thailand increasingly valuing intellectual property, reflecting the growth of innovation in the country.