The latest Global Competitiveness Report was released by the World Economic Forum. Switzerland tops the overall ranking. The United States falls two places to fourth position, overtaken by Sweden (2nd) and Singapore (3rd). Thailand is ranked in 38th position (like last year) out of 139 countries participating.
Among the 12 pillars of competitiveness used to produce this ranking, one focuses on Innovation. In term of Innovation,  the top three countries are, USA, Switzerland and Finland, and Thailand is ranked in 52th position. The innovation factor is calculated using the following criteria:
- Capacity for innovation
- Quality of scientific research institutions
- Company spending on R&D
- University-industry collaboration in R&D
- Government procurement of advanced technology products
- Availability of scientists and engineers
- Utility patents
- Intellectual property protection

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