According to the WB’s annual classification, published yesterday, this Indochinese nation officially moved from the lower-middle-income to the upper-middle-income category after its gross national income (GNI) per capita reached 4,970 US dollars.

This level exceeds the 4,636-dollar threshold used as the criterion for classification as an upper-middle-income country under the World Bank’s new categorization, the publication noted.

Vietnam’s improved rating was driven by sustained economic growth and strong export performance; the WB highlighted that the country’s GNI is projected to grow at an average annual rate of approximately 10 percent during the 2021–2025 period.

World Bank experts consider this “one of the most robust sustainable growth rates in the region,” the newspaper underscored, adding that four other nations—the Philippines, Sri Lanka, Jordan, and Micronesia—also transitioned from the lower-middle-income to the upper-middle-income category.

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