Brunei ranked fifth in Southeast Asia in Global Innovation Index

Source: Xinhua| 2017-06-17 18:02:50|Editor: Song Lifang
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BANDAR SERI BEGAWAN, June 17 (Xinhua) -- Brunei is in fifth position among Southeast Asian nations, ninth in Asia and the 71st globally in the annual Global Innovation Index published recently.

The latest edition of the index, co-published by Cornell University, International business school INSEAD and the World Intellectual Property Organisation, provides detailed metrics about the innovation performance of 127 countries and economies around the world. Its 81 indicators explore a broad vision of innovation, including political environment, education, infrastructure and business sophistication.

Making its first entry in such global index, Brunei, which was among the high income index nations, did well in several indicators.

Brunei is ranked among the best in the world in political stability and safety in the index.

The Sultanate is placed the seventh at the sub-pillar level under "Institutions", after New Zealand, Luxembourg, Switzerland, Iceland, Canada and Singapore.

Under Institutions, Brunei excelled in regulatory environment, clinching the 27th place globally. Under this indicator, the nation triumphed in the cost of redundancy dismissal, salary weeks where it was ranked first.