This is the highest-ever ranking Vietnam has achieved so far, local daily newspaper Nhan Dan (People) reported on Thursday, citing the newly-released index.
Its 80 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication.
Vietnam is ranked as the top economy in the lower middle-income group, with consistent improvement in scores in human capital and research, market sophistication, and knowledge and technology outputs, read the report.
Switzerland, Sweden and the United States top the global list.
HANOI, July 25 (Xinhua) -- Vietnam has jumped three spots to the 42nd position out of 129 economies in the latest Global Innovation Index, the annual measurement of an economy's innovation performance by the World Intellectual Property Organization (WIPO).