Development model for new era - An inevitable trend
Hanoi, Sept. 4 -- The World Bank Group's recent upgrade of Vietnam to the upper-middle-income economy category marks a historic milestone after 17 years of sustained efforts. However, to escape the middle-income trap and achieve high-income status by 2045, Vietnam must address new development challenges as traditional growth drivers approach their limits. International organisations broadly agree that shifting the growth model from reliance on traditional factors toward technology and innovation is no longer an option for Vietnam, but an imperative of the times. An urgent requirement According to the World Bank Group's latest classification, Vietnam's gross national income (GNI) per capita has reached 4,970 USD, exceeding the threshold fo...
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