Vietnam boosts intellectual property index score
Vietnam boosts intellectual property index score
Vietnam has earned a higher score in the International IP Index 2021 for reaching a trade agreement with the E.U. last year.
Vietnam jumps one notch to ranked 41th in the International IP Index 2021. Photo by Shutterstock/ProStockStudio.
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According to the intellectual property (IP) index, released by the U.S. Chamber of Commerce Global Innovation Policy Center (GIPC), the country's score increased from 36.62 percent (18.31 out of 50) last year to 37.49 percent (18.74 out of 50).
The annual ranking maps the IP ecosystem in 53 economies, representing over 90 percent of global GDP, by using 50 indicators across nine categories - patents, related rights and limitations; copyrights, related rights, and limitations; trademarks, related rights, and limitations; design rights, related rights, and limitations; trade secrets and the protection of confidential information; commercialization of IP assets; enforcement; systemic efficiency; and membership and ratification of international treaties.
Out of the nine indicators, Vietnam performed best in the international treaties category and worst in design rights.
Vietnam has moved up a notch to be ranked 41st, thanks to 0.5 points increase in the Post-TRIPS (Trade-Related Aspects of Intellectual Property Rights) FTA indicator.
The center said the reason why it gave Vietnam a higher score is because of the EU-Vietnam FTA that took effect on August 1 last year, saying this agreement helps with growing integration into international IP platforms.
Even though the report lauded Vietnam for having a basic IP protection and enforcement framework in place, it also noted some weaknesses, including inadequate protection of life science patents with a challenging enforcement environment, lack of measures to address online infringements, and high physical counterfeiting rates and online infringement.
It praised Vietnam for making efforts in drafting legislation to align its IP Law with both EU FTA and CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) to fulfill treaty obligations, quoting the drafted IP Law "strengthen the protection of copyright online as well as improve the technological protection measure and digital rights management environment."
In Asia, the country placed above Thailand at 45th, Indonesia at 48th and Pakistan at 52nd.
There was not much change in the ranking of the top five nations. The U.S. continues to top the index with the U.K. in second. Germany moved up one place to third and pushed France down to fourth. Japan also outperformed Sweden to finish in fifth place.
China, the world’s second-largest economy, moved up four spots to 24th place while India, the world’s second-most populous country, retained it position at 40th.
The bottom five economies are Kuwait (49th), followed by Nigeria, Algeria, Pakistan and Venezuela (53rd).
