Vietnam has been a middle-income country for only three years and cannot be considered to have fallen into the middle income trap until it is stuck there for several decades, economist Nguyen Minh Phong said. He pointed out that, firstly, a country would be considered as being in the trap only if it is stuck there for several decades. Secondly, Vietnam has slowed down its growth only to enable economic restructure and achieve more rapid economic growth in the medium term.
