In order to avoid the middle-income trap, Vietnam needs to change its strategy on attracting foreign direct investment (FDI). FDI attraction over the last 30 years hasn’t succeeded as expected.

Vietnam’s GDP growth rate in the first half of 2021 stood at 5.64% which surprised many people.

Information and technology (IT) firms will lead the country’s digital transformation in all sectors, said Phan Tam, Deputy Minister of Information and Communications (MIC).

VietNamNet Bridge - More than 70 percent of Vietnam’s total export turnover belongs to foreign-invested enterprises (FIEs), while Vietnamese enterprises still cannot join the global value chain. 

 VietNamNet Bridge - Signs of the middle-income trap have appeared since 2008 and they are increasingly clearer, said a researcher from the Institute of Japan National Policy Research, Kenichi Ohno.

 VietNamNet Bridge – If Vietnam’s GDP grows by 5.6-5.8 percent in 2014 as economists predict, this will be the fourth year Vietnam has obtained a modest economic growth rate.

 VietNamNet Bridge – Viet Nam became a middle-income country (MIC) in 2008, and remains at the lower MI level. Recently, Japanese economist Kenichi Ohno stated that Viet Nam had fallen into the middle-income trap,