• ISSN: 2155-7950
  • Journal of Business and Economics

Vietnam and the Middle-Income Trap in Development

Tran Phuong Anh, Le Thanh Ha, Phan Tien Nam, Ngo Thi Thuy Quyen, Hy Hai Yen,
Phung Thanh Loan, Mai Thi Bich Ngoc, Nguyen Thi Viet Nga
(Academy of Finance, Vietnam)

Abstract: This article covers the general issues of the Middle-income trap, thereby identifying the risk of falling into Vietnam’s middle-income trap, the reasons and proposing some solutions for Vietnam to overcome the middle-income trap and enter the league of high-income countries in 2045. The comments and analysis are based on the World Bank’s criteria for classifying groups of countries, updated to July 2022.

Key words: middle-income trap, growth rate, development, MIT, MICs

JEL code: O110

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