Silver Economy in Vietnam: From the Challenge of Population Aging to Development Opportunities

Photo caption — Prof. Dr. Nguyen Xuan Thang, Politburo member, Director of the Ho Chi Minh National Academy of Politics, Chairman of the Central Theoretical Council, gave a speech. Photo: Minh Duc/VNA

Attending the workshop were Politburo member, Director of the Ho Chi Minh National Academy of Politics, Chairman of the Central Theoretical Council Nguyen Xuan Thang; Head of the Central Policy and Strategy Committee Nguyen Thanh Nghi; Vice Chairman of the National Assembly Le Minh Hoan; Editor-in-Chief of the Communist Magazine Hoang Trung Dung; and representatives of leaders of central and local departments, ministries, branches, unions, and international organizations. The workshop was held in Hanoi and connected online with 33 connecting points nationwide.

The conference received 96 presentations covering both domestic and international theory and practice, focusing on three main groups of issues: theory on the "silver economic forum" and silver economy in Vietnam; assessment of the current state of silver economy, the role of the elderly in socio-economic development over the past 40 years; opportunities, challenges and orientations for silver economic development in the new era, while emphasizing tasks, solutions and policy breakthroughs in the future.

Three pillars to promote silver economy

Speaking at the workshop, Director of the Ho Chi Minh National Academy of Politics, Chairman of the Central Theoretical Council Nguyen Xuan Thang emphasized that Vietnam is experiencing the strongest population aging period in Asia and is among the fastest aging groups in the world. This is not only a challenge for the health care and social security system but also an opportunity to exploit endogenous resources, promote the potential, experience, intelligence and strength of the elderly to realize the country's strategic goals in the new era.

At the conference to disseminate Resolution No. 72-NQ/TW of the Politburo on a number of breakthrough solutions to strengthen the protection, care and improvement of people's health, General Secretary To Lam emphasized that "children are very important but the elderly are no less important" and suggested a model of "fighting loneliness for the elderly and the elderly". This is an important strategic orientation that needs to be discussed, clarified and concretized with practical measures and policies.

Mr. Nguyen Xuan Thang said that the silver economy in Vietnam in the new era is based on three main pillars: It is necessary to renew thinking and awareness about the role of the elderly so as not to waste resources in economic development; to innovate the method of caring for the elderly in a comprehensive direction, constantly improving the quality of life for the elderly and the aged through a system of necessary services; and to have a new definition of "talented elderly labor force" in rapid and sustainable development.

Emphasizing that silver economy is not only an issue for the elderly, but also a cultural, social, human and ethical issue, Mr. Nguyen Xuan Thang suggested many questions to guide the discussion at the workshop. That is how to turn silver economy into a driving force for national growth, shifting from a mindset of social security - cost to a mindset of investment - value creation - market. It is necessary to build a mechanism for the elderly to continue to contribute voluntarily, effectively and sustainably according to the principle of voluntariness, suitable for health. Prioritize the development of market segments: home care, rehabilitation, high-quality nursing, application of high technology in healthcare. Combine traditional family values with a modern model of elderly care. Based on the principle of State creation, private sector leadership - society accompanies - technology creates breakthroughs, it is necessary to encourage private investment in nursing services and rehabilitation medicine. Developing a digital ecosystem for elderly care, proactive health management, training in geriatrics and geriatric nursing, developing international-standard medical - rehabilitation - nursing infrastructure...

The elderly, the silver economy and the "golden autumn" of society

Speaking at the workshop, Vice Chairman of the National Assembly Le Minh Hoan emphasized that population aging opens up huge social resources, a “golden” generation of production, management, and professional knowledge, which can activate a “knowledge treasure” of tens of millions of people with experience in production, management, and cultural and social creation. That is the basis for the formation and development of a silver economy.

The concept of longevity is changing towards healthy and useful living, with three major transformations: from focusing on disease treatment to disease prevention, from “passive elderly” to “active elderly”, from medical burden to social assets, exploiting the life experiences of the elderly to build a “lifelong learning society”. Silver economy is not only limited to health care but also extends to smart housing, friendly tourism, diverse cultural and educational products, helping the elderly find new meanings and goals in life.

According to the Vice Chairman of the National Assembly, to take advantage of the potential of the silver economy, Vietnam needs to build a national strategy, integrate the silver economy into socio-economic development programs, issue standards for products and services friendly to the elderly, and set specific targets for the contribution rate of the silver economy. At the same time, it is necessary to develop the market, service infrastructure, encourage businesses to produce suitable products, build community care centers, resorts, cultural and sports spaces, promote e-commerce and friendly digital platforms.

Exploiting knowledge and labor resources is also emphasized through part-time jobs, consulting, advising, establishing a network of “knowledge clubs” or “senior clubs” for the elderly to share experiences and guide the younger generation. At the same time, incentive mechanisms, diversifying capital sources and socializing services, tax exemptions and reductions, and credit priority for projects for the elderly are key solutions.

Changing social awareness, communicating the image of the elderly as active and creative, honoring their contributions and encouraging families and communities to create conditions for the elderly to live usefully is the foundation to turn the challenge of population aging into development opportunities. At that time, old age truly becomes the "golden season" of society, both reducing the burden and creating economic and humanistic values.

At the workshop, experts and scientists emphasized many strategic solutions to promote silver economic development, towards a flexible and sustainable social security and pension system. Opinions focused on improving employment and training policies to encourage elderly workers, while developing industries and services for the elderly.

The workshop also mentioned removing “bottlenecks” to support businesses, promote investment and start-ups in the silver economy, especially businesses owned by the elderly and employing a large number of elderly workers. In addition, delegates emphasized the construction of urban infrastructure, elderly-friendly technology, database development, and strengthening data management in the direction of connectivity and connection.

The research results and discussions at the workshop are expected to provide important scientific arguments, support advisory agencies in proposing new policies and strategies, create a consensual legal and social environment, promote the silver economy to become a driving force for development, contribute to bringing the national economic growth to double digits, towards sustainable development.

Source: https://baotintuc.vn/thoi-su/kinh-te-bac-o-viet-nam-tu-thach-thuc-gia-hoa-dan-so-den-co-hoi-phat-trien-20251115134451052.htm