The progress of North Macedonia on the list of the Global Innovation Index, continues

The progress of North Macedonia on the list of countries that invest in innovation and innovation structure that results in economic progress, continues. According to the latest report of the Global Innovation Index (GII) for 2020 published on September 2, 2020, the country has moved two more places up this year compared to last year, or 27 compared to 2018.

In the global report which ranks 130 countries in the world in terms of innovative performance by 80 different parameters, North Macedonia is on the 57th place, which is a significant progress and is due to investments in micro, small and medium enterprises by the Government and the Fund for Innovation and Technology Development in the past three years.

North Macedonia has also progressed in terms of the increased level of investment in innovation by domestic institutions and it is ranked 46th, which is 6 places higher than last year, and especially higher compared to 2018 when it was in 71st place. Regarding the results achieved by the innovations, the country kept the 63rd place, as in 2019, i.e. 30 places higher than in 2018.

Compared among the group of 37 European middle-income countries, North Macedonia this year has above-average scores in four of the seven pillars of the Global Innovation Index: Institutions, Infrastructure, Knowledge and technology outputs, and Market sophistication. According to the report it is due to the improved business climate and increased level of availability of financial resources from the state to the support of domestic economy.

Compared to the other European economies included in the study, North Macedonia has above average results in terms of market sophistication, being ranked on the 17th place, a remarkable jump from last year's 28th place. This indicator shows the serious progress in terms of access to finance and a simple way to protect minority investors.

In the report, the country has been ranked 13th among the 37 middle-high income economies, which include countries such as Russia, China, Bulgaria, Malaysia, Thailand and Serbia. The performance of innovations and GDP per capita, compared to the level of development of the country, are also outstanding.

There has also been improvement with the quality indicators ISO9001 (rank: 22th) and high- and medium-high technology products (21st), as well as in terms of environmental sustainability (17th), business climate (30th) and protection of intellectual property (23rd).

Regarding the recommendations, it is noted that the country should invest more in education, improve the education system and increase the cooperation between the business sector and the academic community, which is assessed at a very low level. The report also points to the need for greater investment in human resources and research, and increased government engagement, for which FITD is already developing special instruments and support programs.

Switzerland is first on the list this year, according to the analysis of GII, and among the first five are Sweden, USA, Great Britain and the Netherlands, while the last on the list are Guinea and Yemen.

The Global Innovation Index report has been published for 13 years in a row by the World Intellectual Property Organization in partnership with the Insead Business School and Cornell University in the United States.