World Bank: Vietnam a trusted economic model as Asian economies are failing to innovate in line with growth

MOST East Asian countries "innovate less than would be expected given their per capita income levels" and could therefore struggle to sustain recent economic growth, according to the World Bank.

Countries in the region are dogged by "insufficient staff skills and limited financing options," the bank said in a report published late Tuesday, with firms often seeming wary of investing in innovation because "policies and institutions are often not aligned with firms' capabilities and needs."