It is sometimes referred to as the "Ken Burns" effect after the documentary filmmaker that made extensive use of it in his baseball documentaries and in his feature film documentary "The Kid Stays in the Picture."

Here are some links to other posts on this forum that discuss how to achieve the effect:

The "Enhanced" Ken Burns Documentary Effect

Scanner questions (for photographs)

The short-form version of how to do it is this:

"Cut out" the part of the image you want to appear in the foreground. Make that a separate image.

You will now have a hole where the foreground image was. Clone the surrounding material into the hole. You don't need to be that clever with your cloning. The only thing that really needs to be good is along the edges of your cutout. Save this image.

Put the two images on the Vegas timeline. Zoom and pan each one individually. Zoom the foreground image more and pan faster than you do on the background part of the image. This will give the illusion of depth. You can also blur the background part of the image. You can change the amount of blur as you zoom in and out (blur more as you zoom in) to simulate the depth of field change you would get as you zoom in.

DV Magazine had an extensive article about a year ago on how to achieve this effect.

Here's a link to a "how to":

Ken Burns How To

Boris Red Ken Burns Effect