Brunei Darussalam has lost ground in its efforts to promote innovation as a cornerstone for future economic and social development, slipping down the ladder of a comparative survey of innovative practices for the second year running, but the sultanate is positioning itself to rebound strongly in the years to come.
In its latest Global Innovation Index (GII), released in mid July, the Institut Européen d’Administration des Affaires (INSEAD) ranked Brunei Darussalam 88th out of 143 countries assessed, a drop of 14 places on its 2013 performance. Much of this retreat was due to sharp falls in the Innovation Output Sub-Index – the measure of innovative activities within the economy – and the Innovation Efficiency Ratio, which measures input against output, or how much value a country gets from the effort and investment it makes.
In the 2014 GII, the sultanate saw its standing on the output sub-index fall 35 places to 124 compared to the previous year, while its efficiency ratio dropped from 119 to 139. This was despite the fact that its Innovation Input Sub-Index remained steady, easing just one rung to 55 on the ladder.
The 2014 result is a turnaround from