BANDAR SERI BEGAWAN - Brunei placed 67th out of 148 countries in terms of its capacity for innovation, the latest report from the World Economic Forum (WEF) showed.
According to WEF's 'Global Information Technology Report' for 2014, Brunei is ranked sixth among its ASEAN counterparts in terms its companies capacity to innovate.
The report, which was themed 'Rewards and Risks of Big Data', measured the value of innovation on a scale of one to seven in which the higher the figure, the greater extent there is for companies to develop.
Brunei was given a value of 3.5, a figure shared with Cambodia which placed 71st in the global ranking.
Malaysia placed 15th in the standing and came out on top of its ASEAN counterparts with a value of 4.9. This was followed by Singapore, which placed 16th with 4.8 and Indonesia, which placed 24th with a value of four.
Laos and the Philippines both scored 3.8, placing 46th and 48th respectively in the global rankings.
In the report, Vietnam and Thailand placed 86th and 87th, respectively. They both shared the value of 3.4. Myanmar, which placed 135th in the global rankings, has a value of 2.7 which is one of the lowest among the 148 countries.
In WEF's 'Global Information Technology Report' for 2013, Brunei was ranked 68th out of 144 countries. The report at that time measured capacity for innovation using the same numerical values although with a different definition.
A lower value indicates the country is mostly a technology imitator while a higher value is assigned to a country that conducts research to create new products.
In that year, Brunei was given a value of 3.2 which was also shared by Cambodia. This means the country's capacity for innovation is weighted more towards exclusive licensing or imitating foreign companies' technology products.
Malaysia led in ASEAN after placing 17th with a score of 4.6 followed by Singapore which has a value of 4.4 while placing 20th in the global rankings for 2013.