July 02, 2026 | 21:52 (GMT+7)
World Bank upgrades Vietnam to upper-middle-income status
The World Bank (WB) has reclassified Vietnam as an upper-middle-income country after years of sustained rapid economic growth, a move that experts say marks an important milestone and is likely to further strengthen international investor confidence in one of the region’s fastest-growing economies.
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Cargo at Lach Huyen Container Terminal in Hai Phong city |
According to the bank’s latest update released on July 1, Vietnam’s gross national income (GNI) per capita reached 4,970 USD in 2025, exceeding the institution’s 4,636 USD threshold for upper-middle-income economies.
With the country’s reclassification, all five largest economies of Southeast Asia, namely Singapore, Malaysia, Thailand, Vietnam and the Philippines, have now attained upper-middle-income status or above.
Vietnam, one of Asia’s fastest-growing economies, is targeting double-digit economic growth from 2026, with momentum expected to come from business-friendly reforms and a sustained wave of infrastructure investment.
Source: VNA