Thu, 02 Feb 2023

Vietnam faces challenges of aging society

03 Dec 2022, 02:05 GMT+10

HANOI, Dec. 2 (Xinhua) -- An aging population is presenting challenges for Vietnam as its social security system is still in its early stages and economic resources are limited, local newspaper Vietnam News reported on Friday.

The number of older people (65 years or over) in the Southeast Asian country has increased rapidly to reach nearly 7.4 million in 2020, accounting for 7.7 percent of the total population. It is expected to increase to nearly 11.8 million by 2030, accounting for 12 percent of the total population, according to the Institute of Labor, Science and Social Affairs (ILSSA).

Meanwhile, the level of readiness and preparedness for the independent old age of middle-aged individuals is not high, the newspaper cited a recent report co-conducted by the institute as saying.

A large percentage of the report's respondents aged 30 to 44 seek to live independently in old age, however, the percentage of those planning to achieve this remains low, at nearly 30 percent, said the report.

Vietnam has officially entered the aging phase since 2011 and is projected to become an aged society by 2036. It is one of the most rapidly aging countries in the world, according to the institute.

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