Keyword: "upper-middle-income group"

Vietnam’s semiconductor industry offers the country an opportunity to shift from a growth model heavily reliant on low-cost labour and manufacturing toward more technology-intensive, higher value-added sectors, according to Nikkei Asia.

Among the 218 economies assessed this year, Vietnam was one of only six to be upgraded to a higher income category by the WB Group. The move marks a notable milestone after 17 years in the lower-middle-income group, where Vietnam had remained since 2009.