About 76% of older people do not receive a pension and nearly all rely on unpaid care from family members. — Vietnam News
HANOI: Vietnam is entering a period of rapid population ageing, a demographic shift that is creating fresh momentum for the care economy to emerge as a significant driver of growth, according to United Nations policy advisers and experts.
Doan Huu Minh, an analyst at the United Nations Population Fund (U PA), said population ageing should not be viewed solely as a challenge, noting that it also creates space for new services and economic sectors, particularly care-related industries.
U PA data showed that Vietnam entered the ageing phase in 2011, when people aged 60 and above accounted for more than 10% of the population.
By 2034, this is expected to reach 20%, officially classifying Vietnam as an aged society. The transition coincides with the expected end of the country’s golden population period around 2036 and a decline in the number of school-age children.
As demand for health care and long-term care rises, existing support systems remain limited.
About 76% of older people do not receive a pension and nearly all rely on unpaid care from family members.
Women account for around 72% of caregivers, most of whom work in the informal sector without stable income, labour protection or social insurance.
Pham Vu Hoang, deputy director of the Population Department under the Health Ministry, said Vietnam’s geriatric care system is still far from meeting demand. Nationwide, there is only one provincial-level geriatric hospital, located in Quang Ninh.
Private nursing homes number only about 20, mainly in large cities, and remain unaffordable for most families.
Currently, about 10,000 older people receive care at social protection facilities, a very small figure compared to nearly 15 million elderly nationwide.
The shortage of long-term care services highlights the need for a broader approach that extends beyond healthcare alone.
International research suggests the care economy can become a strong growth engine.
UN Women estimated that every one US dollar invested in care can generate up to four dollars in economic benefits through job creation, higher productivity and improved social outcomes. — Viet Nam News/ANN
