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.

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.

Hanoi accelerates urban development with five rail lines, three housing projects

Hanoi held a groundbreaking ceremony for five urban railway lines and three rental housing projects across the city on June 22. This is the largest package of infrastructure and social housing projects the capital has ever undertaken, marking an important shift from the stage of preparing mechanisms and policies to the stage of implementation and the realisation of the Government’s major development directions for Hanoi.

Vietnam Family Day: Investing in families for sustainable development

Despite strong family bonds, many households in Vietnam now live in separate “worlds” shaped by technology and global integration. The rapid expansion of digital information has placed traditional family education under pressure, as children increasingly turn to online sources of knowledge rather than learning from parents and grandparents.

PM calls for greater focus on developing high-impact strategic products

Prime Minister Le Minh Hung has called for concentrating resources on developing core technologies and strategic products with the potential to drive growth and improve national competitiveness.

Vietnamese scientists develop nanovitexin from mung bean husks to support diabetes treatment

The breakthrough is expected to support diabetes prevention and treatment while opening up broader biomedical applications.

Deputy PM calls for more effective land use to drive national development

Priority land allocations in the coming years will be directed toward modern infrastructure development, industrial parks, economic zones, logistics hubs, strategic transport projects, major urban areas and key energy projects.