In its report entitled "Vietnam 2045: Trading Up in a Changing World – Pathways to a High-Income Future", the bank said, integration into global markets has been the key driver of Vietnam’s development success over the past 40 years.
Building on its past success, Vietnam has set ambitious goals for the future, aiming to become a modern, high-income economy by 2045.
According to the bank, to sustain rapid growth, Vietnam will need to transition from labor-intensive, low value-added final assembly into higher value-added manufacturing and services
In addition, amid global trade shifts and rising uncertainty, the country also needs to diversify trade and investment partnerships.
The bank also proposed a multipronged approach to unlock productivity growth, attract private investment, and upgrade participation in global value chains./.
