World Bank2024-12-062024-12-062024-12-06https://hdl.handle.net/10986/42505Section 1 analyzes the crucial role trade played in Viet Nam’s rapid industrialization and development over the last three decades. Section 2 highlights the emerging constraints to the current export-driven model. Section 3 discusses the fundamental shifts in the global environment that shape both opportunities and risks for Viet Nam. Section 4 identifies policy packages to upgrade Viet Nam’s participation in global value chains and specific policies needed to realize them. Section 5 examines policies to manage the economic transformation and ensure that no one is left behind. A summary of policy recommendations is provided at the end of the reporten-USCC BY-NC 3.0 IGOECONOMIC GROWTHINFRASTRUCTUREGLOBAL VALUE CHAINSTRANSPORTATIONCLIMATE ACTIONDECENT WORKReportWorld Bank10.1596/42505