Vietnam has earned an additional 5 million USD from the transfer of 1 million tonnes of forest-based carbon emission reductions to the World Bank, according to Deputy Director of the Department of Forestry and Forest Protection Pham Hong Luong.

A new World Bank classification marks a major milestone for Vietnam. The country's next economic goal is escaping the middle-income trap and joining the world's high-income economies.

The World Bank (WB) has classified Vietnam as an upper-middle-income economy after the country's gross national income (GNI) per capita rose to US$4,970 in 2025.

Deputy PM Ho Quoc Dung on June 19 received Saroj Kumar Jha, Global Director for the WB Group's Water Department, and Mariam Sherman, WB Division Director for Vietnam, Cambodia and Laos.

Vietnam's economy has demonstrated remarkable resilience in recent years despite a succession of global shocks, according to Tehmina Khan, the World Bank's Lead Economist for Vietnam, Cambodia and Laos.

Despite mounting short-term external challenges, VN's medium-term economic outlook remains highly positive, with the country expected to continue as one of the region’s growth bright spots, according to the World Bank’s latest VN Economic Update.

The World Bank has allocated 2.5 billion USD, while the Asian Development Bank has set aside 10 billion USD to support green projects in ASEAN, said Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof.

Vietnam is on track for a transportation shift, with car sales projected to overtake motorbikes after 2035. The World Bank expects the market to grow to 54 million cars by 2050, fueled by rising incomes and EV adoption.

As export demand may decrease this year, Việt Nam should strengthen domestic business activities and services to drive economic growth, says Mariam Sherman, World Bank director for VN, Cambodia and Laos.