HANOI (Xinhua): Vietnam is forecast to transition from an aging society to an aged society by 2038, according to the Ministry of Health.
By this year, the country will have more than 21 million elderly, accounting for nearly 20 percent of the total population, Vietnam News Agency has reported.
The number of people aged 60 and more accounted for 11.9 percent of the total population in 2019. By 2050, the figure is forecast to rise to over 25 percent.
The ministry said it would take Vietnam over 20 years to transition from an aging society to an aged society.
The ministry cited experts as saying that aging population in Vietnam led to labor shortage. The industrial and service sectors will struggle to recruit enough human resources, potentially lowering labor productivity, competitiveness, and negatively impacting economic growth.
According to Ta Minh Tuan, vice president of the Vietnam Academy of Social Sciences, Vietnam should not only regard aging population as a risk.
Aging population should be regarded as a factor that will create substantial chances for sustainable development through the active engagement of old people.
Thanks to their experience, knowledge, skills and financial resources, the elderly can become important factors and resources in the community to actively contribute to socio-economic development, family and community, he said. - Xinhua
