As its economy grew by 5.3% in the third quarter of this year, Vietnam’s growth engine is still in full swing, boosted by households deploying excess savings accumulated through the COVID-19 pandemic, the website said in an article posted this week.

The favorable geopolitical situation and sooner-than-expected rate cuts by the State Bank of Vietnam (SBV) are the factors that promote economic growth, helping Vietnam become the best-performing market in the region.

Despite the fact that trade has declined somewhat and inflationary pressures have increased, income growth according to Vietnam's economic structure has not decreased and will continue to increase unexpectedly in the coming years.

Recent news flow shows that Vietnam is very close to emerging market reclassification, the article said.