Sai Gon port is a major international seaport in Vietnam. (photo: Hoang Hung/VNA)

Xinhua News Agency of China reported that Vietnam's economy shows signs of strong recovery and strong purchasing power will drive the economic growth.

The US’s BNN Network said that, despite national and global economic fluctuations, Vietnam has been a "lighthouse" of recovery, driven by prudent government policies, strategic economic planning, and a steadfast commitment to stability and development.

The International Monetary Fund is optimistic about Vietnam’s medium-term economic prospects, with GDP growth forecast to be 5.8% next year and 6.9% in 2025. Shanaka Peiris, Head of Regional Research at the IMF's Asia-Pacific Department, said there are many signs of recovery in the fourth quarter. Vietnam is facing difficulties in the export, real estate, and financial sectors but growth has been restored thanks to reform measures. Vietnam will overcome short-term headwinds and maintain its growth momentum based on integration, value supply chains, and foreign direct investment.

Shantanu Chakraborty, ADB Country Director in Vietnam, says Vietnam's economy is stable despite global fluctuations and will recover quickly in the near future thanks to strong domestic consumption, moderate inflation, accelerated disbursement of public investment, and improved trade activities.

Hoe Ee Khor, chief economist of the ASEAN+3 Macroeconomic Office (AMRO), said the Vietnamese government has taken a number of measures such as cutting interest rates and increasing credit ceilings to support sectors affected by recession, especially small and medium-sized enterprises. AMRO expects Vietnam's exports to recover and forecasts Vietnam's growth to be 6% next year.