Viet Nam reaches upper-middle-income status, World Bank says

The World Bank now ranks Viet Nam as upper-middle-income. GNI per capita rose from US$4,490 to US$4,970 in a year, after 17 years in the lower-middle bracket.

Economist Le Duy Binh credits reforms since 1986, trade, and exports for the rise. Viet Nam is now a top hub for electronics, textiles, and footwear.

Experts warn Viet Nam must avoid the "middle-income trap" and grow tech and green industries to hit high-income status by 2045.