Maximizing golden population structure for national development

Since 2006 Vietnam has entered a period of optimal population structure, with more than half of its 93 million people of working age. Vietnam has devised appropriate policies to make full use of population opportunities for national development.
maximizing golden population structure for national development

Recent studies show that the golden population structure will have positive effects on Vietnam for at least the next 20 years.

But one of the challenges is that only 20% of the workforce has been professionally trained. Vietnamese workers also lack teamwork and problem solving skills.

Dang Van Hung, a worker at Thang Long Industrial Park in Hanoi, said “Automation will reduce human employment opportunities. I’m very worried because with my current qualifications, it would be quite difficult for me to find a new job.”

The Fourth Industrial Revolution threatens low-skilled and semi-skilled workers. Tens of thousands of Vietnamese workers could lose their jobs before they reach retirement age.

If Vietnam doesn’t find some solutions soon, it will lag behind other countries and have a harder time in ensuring social security.

“Vietnam can no longer rely on low-cost labor and commodities. It’s time to change,” said economist Pham Chi Lan.

Vu Quang Tho, Head of the Institute for Workers and Trade Unions under the Vietnam General Confederation of Labor, said taking advantage of the young workforce will require training.

“What workers must do now is improve their skills or find jobs suitable to their qualifications. The social security system, especially social insurance and unemployment insurance, should be made more efficient so that when these people become unemployed they will have money to attend vocational training courses and find new jobs.

These things should be done immediately so that Vietnamese workers can adapt to the changing labor market,” Tho elaborated.

During this period of optimal population structure, the brainpower of young workers should be exploited to ensure social security before Vietnam enters a period of population aging.

Source: VOV

Related News

Government acts to promote economic diplomacy for national development

Government acts to promote economic diplomacy for national development

The Government has recently issued a resolution approving an action programme on accelerating economic diplomacy for national development for the period from 2022 to 2026.
The population is "golden" but the quality of labor is not

The population is "golden" but the quality of labor is not

VCN - In order to develop a flexible and sustainable labor market, according to experts, it is necessary to invest in basic infrastructure to serve workers in developing labor markets such as provinces, cities and industrial zones. At the same time, there is a regulation by the State, to avoid unfair competition in the market.
Conference seeks to mobilise SOEs’ resources for national development

Conference seeks to mobilise SOEs’ resources for national development

Prime Minister Pham Minh Chinh chaired an online conference with representatives from State-owned enterprises (SOEs) on March 24, which focused on ways to mobilise more resources from SOEs for the country’s socio-economic development.
The chance to arrange and rearrange the development of the country

The chance to arrange and rearrange the development of the country

VCN - According to Minister of Planning and Investment Nguyen Chi Dung, building a national master plan is an opportunity to arrange and rearrange the development of the country to achieve the goals and aspirations that the Resolution of the 13th National Congress of the Communist Party determined that, by 2045, Vietnam will become a developed, high-income country.

Latest News

GDP grows 5.66% in Q1

GDP grows 5.66% in Q1

Vietnam's economy grew 5.66% in the first quarter compared to the same period last year, the highest for the first quarter since 2020, the General Statistics Office (GSO) announced at a press conference in Hanoi on March 29.
Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM

Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM

Deputy Prime Minister Tran Luu Quang on March 27 stressed the Vietnamese Government’s determination to speed up the disbursement of official development assistance (ODA) and concessional loans.
Vietnam, US hold first foreign ministerial-level dialogue

Vietnam, US hold first foreign ministerial-level dialogue

Minister of Foreign Affairs Bui Thanh Son and US Secretary of State Antony Blinken co-chaired the first Vietnam-US Dialogue at the foreign ministerial level in Washington DC on March 25 (local time).
Adaptive, fundamental, and synchronous solutions to improve the effectiveness of attracting FDI

Adaptive, fundamental, and synchronous solutions to improve the effectiveness of attracting FDI

VCN - Mr. Le Huu Quang Huy, Member of the Inter-Branch Executive Committee of Vietnam Industrial Park Finance Association (VIPF), Vice Chairman of the Board of Members of the International Investment Study Institute (ISC) had an interview with Customs Magazine reporters about the FDI attraction situation.

More News

Vietnam attends 148th IPU Assembly in Geneva

Vietnam attends 148th IPU Assembly in Geneva

A delegation of the Vietnamese National Assembly (NA) led by NA Vice Chairman Tran Quang Phuong attended the opening ceremony of the 148th Assembly of the Inter-Parliamentary Union (IPU-148) and a plenary session in Geneva, Switzerland, on March 24.
More Vietnamese people go cashless: Visa study

More Vietnamese people go cashless: Visa study

Visa, a global leader in digital payments, has provided its insights into Vietnam’s payment landscape with its latest Consumer Payment Attitudes study that highlights the surge in cashless transactions among Vietnamese consumers.
Without resolving three significant bottlenecks, real estate market

Without resolving three significant bottlenecks, real estate market's revival will face numerous challenges

VCN - Economic expert Vu Dinh Anh shares insights on the real estate market's recovery trajectory in 2024.
Top Finnish legislator begins official visit to Việt Nam

Top Finnish legislator begins official visit to Việt Nam

Speaker of the Parliament of Finland Jussi Halla-aho and a high-ranking delegation of the Finnish Parliament arrived in Hà Nội on Sunday
Build advantages - Secure the future with Vietnam ESG 2024 Initiative

Build advantages - Secure the future with Vietnam ESG 2024 Initiative

VCN - In the context of global economic integration, Vietnamese businesses are facing many challenges in meeting strict requirements for green and sustainable development from investors, partners, international market and consumers. Faced with this trend, Vietnamese businesses, especially those participating in global supply chains or exports, are facing increasing pressure to apply ESG practices to avoid falling behind or being eliminated from the "game".
Nearly 20 commercial banks lower deposit rates

Nearly 20 commercial banks lower deposit rates

Nearly 20 commercial banks in Vietnam have adjusted deposit rates since the beginning of this month, with most lowering rates.
Breakthrough policies look towards green economy

Breakthrough policies look towards green economy

Extended producer responsibility (EPR) holds producers and importers responsible for the entire lifecycle of their products, including their disposal and recycling.
Vietnam remains attractive destination for foreign investors

Vietnam remains attractive destination for foreign investors

Vietnam's economic strength is reflected in controlled macroeconomic indicators and the country has increasingly affirmed and strengthened its important role in the supply chain diversification strategy of multinational corporations. 2024 will be the year for foreign investors to seize opportunities and implement high-tech foreign direct investment (FDI) projects in Vietnam.
Bright spots at the beginning of the year

Bright spots at the beginning of the year

VCN - Production and business activities of enterprises have been vibrant since the first days of the year, thanks to which, many economic indicators in the first 2 months of 2024 are positive and positive. This is the fulcrum of trust and motivation for businesses to continue to develop.
Read More

Your care

Latest Most read
GDP grows 5.66% in Q1

GDP grows 5.66% in Q1

Vietnam's economy grew 5.66% in the first quarter compared to the same period last year, the highest for the first quarter since 2020, the General Statistics Office (GSO) announced at a press conference in Hanoi on March 29.
Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM

Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM

Deputy Prime Minister Tran Luu Quang on March 27 stressed the Vietnamese Government’s determination to speed up the disbursement of official development assistance (ODA) and concessional loans.
Vietnam, US hold first foreign ministerial-level dialogue

Vietnam, US hold first foreign ministerial-level dialogue

Minister of Foreign Affairs Bui Thanh Son and US Secretary of State Antony Blinken co-chaired the first Vietnam-US Dialogue at the foreign ministerial level in Washington DC on March 25 (local time).
Adaptive, fundamental, and synchronous solutions to improve the effectiveness of attracting FDI

Adaptive, fundamental, and synchronous solutions to improve the effectiveness of attracting FDI

VCN - According to data from the Foreign Investment Bureau (Ministry of Planning and Investment), accumulated to now, Vietnam has attracted 39,553 FDI projects with a total registered capital of US$ 473.1 billion, the total implemented capital of the FDI
Vietnam attends 148th IPU Assembly in Geneva

Vietnam attends 148th IPU Assembly in Geneva

A delegation of the Vietnamese National Assembly (NA) led by NA Vice Chairman Tran Quang Phuong attended the opening ceremony of the 148th Assembly of the Inter-Parliamentary Union (IPU-148) and a plenary session in Geneva, Switzerland, on March 24.
Mobile Version