Cambodia now ranks 98th among the 126 countries featured in the 2018 Global Innovation Index, up three spots from last year, marking an encouraging recognition of direction the tech innovation is taking in the Kingdom.
The report, now in its 11th edition, ranks countries on their innovation in such areas as education, technology, ICT usage, and FDI inflow.
Sandwiched between Ecuador, and Rwanda, Cambodia is once again the lowest ranked ASEAN country (Laos and Myanmar were not included), with Indonesia the closest at 85th. Thailand rose 7 spots to 44th, and Vietnam came in at 45th.
“Cambodia is relatively new in the global innovation landscape. Within the ASEAN group, the economy is second after Singapore in FDI inflows and scores relatively well in the state of cluster development,“ the report notes.
(2018 Global Innovation Index)
As the Kingdom’s tech and innovation continues to develop, the trend of climbing the Global Innovation Index is likely to continue. As our 2018 review of Cambodia’s Social Media Statistics shows, growth in social media and digital usage signals a positive direction for the sector.
“We see an exponential increase in mobile data usage as well as a positive shift in digital awareness where Cambodians have started to explore utilizing other digital platforms on top of social media,” noted Smart Axiata CEO Thomas Hundt in our report.
The 2018 Global Innovation Index highlighted e-participation and government online services as weaknesses in Cambodia’s ICT sector, with education spending and university research identified as weaknesses in human capital.
This is not to say that no progress is being made in these areas however, with domestic companies working hard. Smart continues to expand its STEM scholarship programme SmartStart, and fintech companies such as Pi Pay are working with the government to boost e-participation and the provision of more government services with online payment options.
Cambodia’s rich entrepreneur landscape continues to find innovative ways to boost access to technology and education. The recent launch of the Koompi computer being a great example of an innovative way to provide affordable and relevant technology for Cambodians.
If you are interested in learning more about 2018 Global Innovation Index, the methodology used and how Cambodia fares against other countries, the full report can be found here.