The concept of a golden population structure, defined as having only one dependent person for every two or more individuals of working age (15-64), is outlined by the United Nations Population Fund.
Typically lasting from 30 to 35 years or more, Vietnam entered its golden population period in 2007.
Pham Chanh Trung, the head of Ho Chi Minh City’s Population and Family Planning Department, highlighted to Tuoi Tre (Youth) newspaper that Vietnam is experiencing one of the fastest population aging rates globally.
To effectively leverage the golden population era and adapt to an aging society, the country must significantly enhance population quality, invest in healthcare and education, and improve the overall quality of its workforce, Trung added.
According to the General Statistics Office, in 2023, Vietnam had 52.4 million working-age individuals (15-64), constituting 52 percent of the total population. Trained laborers numbered around 14.1 million, representing 27 percent of the population.
Despite an annual addition of 1.5-1.6 million working-age people, a significant portion remains unskilled, hindering economic development with over 70 percent falling into this category.
While manufacturing sectors, notably textile, garment, and footwear, contribute to growth and income improvement, they often handle less critical phases of the value chains.
Hence, there’s a pressing need to enhance workers’ skills and reshape the economic structure, particularly by fostering the development of high-tech sectors, as suggested by an expert.
Preparing for an aging population involves crafting healthcare policies for the elderly, ensuring a healthy living and working environment, and preventing them from becoming a societal burden.