TEHRAN – Iran and Bolivia have emphasized the need to set up a joint working group in order to expand cooperation in the fields of science and technology.

Iranian Vice President for Science and Technology, Rouhollah Dehqani Firouzabadi, and Bolivian Defense Minister Edmundo Novillo Aguilar met in Tehran on Friday, IRIB reported.

While expressing his surprise at Iran's scientific and technological advances in the two fields of medicine and nanotechnology, the Bolivian official announced interest in developing cooperation in various fields of science and technology with Iran.

Dehqani Firouzabadi, for his part, said the expansion of cooperation in the field of technology and knowledge-based economy with Latin America is on the agenda.

Over the past couple of years, the concept of a ‘knowledge-based company’ has changed to a ‘knowledge-based society’, meaning that supporting knowledge-based companies will lead to many social and economic advantages for the public.

The Leader reemphasized the importance of boosting domestic production, as he had done in past years, saying the reason he placed so much emphasis on production was “because it boosts economic growth, it creates employment, it reduces inflation, it increases per capita income and it improves public welfare.”

To this end, the Vice Presidency for Science and Technology has executed and supported several projects toward the goal of boosting knowledge-based production.

Moreover, the development of an innovation ecosystem is on the agenda, according to which 65 houses of innovation have been set up across the country.

According to the Global Innovation Index (GII 2022) report, Iran is the second most innovative country in the Central and South Asian region and the third among low-middle income countries.

Iran ranked 53rd in the world with 7 steps up compared to 2021.

According to the 2022 GII, Switzerland, the United States of America, Sweden, England, and the Netherlands are the most innovative economies in the world, and China is on the verge of entering the world’s 10 most innovative countries.

The top global companies increased their R&D spending by almost 10 percent to more than $900 billion in 2021, more than in 2019 (before the pandemic).

The drivers of this increase were mainly four industries of "Information and Communication Technology Hardware and Electrical Equipment", "Information and Communication Technology Software and Services", "Pharmaceuticals and Biotechnology" and "Construction and Industrial Metals".

In the annual ranking of innovation capacity and output of world economies, key changes are observed in the top 15 countries. Vietnam (48th), Iran (53rd), and the Philippines (59th) are middle-income economies with the fastest growth in innovation performance to date.

With 7 ranks of promotion compared to 2021, Iran has been ranked 53rd in the world, second in the Central and South Asian region, and third in low-middle income countries, and for the second consecutive year, the innovation development rate is higher than expected.

MG