One of the notable milestones is that the World Bank (World Bank) officially moved Vietnam from the low-middle income group to the high-middle income group in the classification system applied from July 1, 2026. Vietnam is in the top 5 economies to be upgraded this year, along with Jordan, Micronesia, Philippines and Sri Lanka, with the income threshold of the high-middle income group from 4,636 USD to 14,375 USD/person/year.
The change in the income classification group reflects significant changes in the Vietnamese economy in recent years. The WB assesses that Vietnam's growth momentum is being strengthened by the export-based development model, along with positive results in growth and income. In 2024 and 2025, Vietnam's export turnover both increased by more than 15%, while GDP increased by 7% and 8% respectively. Notably, gross national income (GNI) increased by an average of 10% per year in the period 2021 - 2025, bringing Vietnam into the group of economies with strong and stable growth rates in the region.
Not only long-term indicators show positive signals, economic developments in the first half of 2026 also continue to create bright spots.
According to AFP, Q1 GDP increased by 7.83% compared to the same period last year, with the main driving force coming from industry, construction and services. Export turnover reached 122.93 billion USD, up 19.1%.
Vietnam's growth momentum was extended in the second quarter of 2026 when GDP increased by 8.4%, significantly higher than the forecast of 7%. As a result, growth in the first 6 months of the year reached 8.2%. Along with GDP growth, trade activities and foreign investment capital also recorded positive results. Exports reached 266.52 billion USD, up 21%, while total registered FDI capital reached 34.65 billion USD, up 61%.
Xinhua News Agency said that Vietnam is aiming to become one of the leading destinations in ASEAN for high-quality foreign investment projects by 2030, thanks to improving the business environment, enhancing competitiveness, innovation capacity and quality of public services. These steps are expected to create more momentum for growth, in the context that Standard Chartered forecasts Vietnam's GDP may increase by 9.5% in 2026 and 11% in 2027.
Notably, Standard Chartered also lowered Vietnam's inflation forecast to 4.4% in 2026 and 3.3% in 2027. Mr. Tim Leelahaphan, senior economist in charge of Vietnam and Thailand at Standard Chartered, said that the Vietnamese economy has shown strong resilience and adaptation in the first half of the year. The recovery of production, services and investment along with growth support policies are creating a favorable foundation for the next phase.
As more and more international organizations and experts appreciate Vietnam's prospects, it is also proof of the resilience, adaptability and determination to reform of the economy. This will continue to be an important foundation for Vietnam to move towards the goal of high growth, rapid and sustainable development in the coming years.
