GII 2024: Morocco Ranks 1st in Industrial Design, a Success Due in Part to its Unique Intangible Capital (WIPO Chief)

Geneva - Morocco now ranks first in the world for 'industrial designs' in the 2024 Global Innovation Index (GII) released in Geneva on Thursday by the World Intellectual Property Organization (WIPO).Morocco has improved its ranking by 10 places in one year on this indicator as well as on that of the intensity rate of its intangible assets, which are both GII sub-indices.Commenting on this performance at a press conference in Geneva, WIPO Director General Daren Tang emphasized Morocco's unique creative and design potential, viewing it as the result of its radiant intangible capital.According to him, Moroccans integrate their cultural heritage into industrial design, which has enabled them to achieve success in this field.For his part, Sacha Wunsch-Vincent, Head of WIPO's Economics and Statistics Division and co-editor of the Global Innovation Index 2024, noted that Morocco is becoming increasingly attractive for innovative work in the automotive and aerospace industries, stressing that the Kingdom wou ld benefit from developing local inventions and patents as well.Overall, Morocco continues to climb in the GII rankings, securing 66th place in 2024, up from 70th in 2023.With "performance above expectations given its level of development," Morocco joins the group of middle-income economies in the top 70 of the ranking that have progressed most rapidly in this index since 2013, WIPO points out.Morocco ranks in the top 30 for education spending, intangible asset rate, gross capital formation, high-tech manufacturing, and brands.Commenting on this achievement, Wunsch-Vincent noted that the Kingdom excelled in innovation results (47th), outperforming its inputs, which were ranked 89th. Morocco's strong performance in scientific publications and its growing presence in venture capital (31st worldwide) supported its innovation ecosystem, he added.'Morocco was among the first countries, along with China and India, to use, already back in 2011, the global index as a benchmark for its innovation performance . This is an indication of the strategic importance that innovation has for the Moroccan government and in particular the Ministry of Industry and Commerce and OMPIC," Wunsch-Vincent said."Morocco's economic diversification, coupled with government initiatives to encourage entrepreneurship, is driving the country forward," noted the GII 2024 co-editor, assuring that "increased investment in RandD will help maintain its upward trajectory in innovation."Now in its 17th edition, the GII is the benchmark for global trends in innovation. It provides policymakers, business leaders, and others with guidance on how to unleash human ingenuity to improve living conditions and tackle common challenges such as climate change.Source: Agence Marocaine De Presse