Vietnam responds to aging population’s challenges
Vietnam is working to improve its fertility rate as the country is facing the risks of an aging population as well as losing its “golden population” phase that affect the socio-economic development.
According to the Vietnam Population Authority under the Ministry of Health, the fertility pattern in the country has been shifting from the highest Age-Specific Fertility Rate at the age group of 20-24 years old to that of 25-29 years old. More Vietnamese are getting married late, having fewer children or even going childless.
A veteran specialist in the building of population policy held that the trend of late marriage and delayed childbearing is a result of the rapid urbanisation and economic development that are causing economic pressure on young couples.
Director of the authority Le Thanh Dung said limitations in education and healthcare infrastructure, and basic social services in industrial parks and economic zones also affect labourers’ decision on childbirth.
Besides, the nation’s fertility rate, which should be maintained at 2.1 children per woman, has been affected by uncontrolled abortion services at private facilities, he said.
Currently, 21 cities and provinces have recorded low fertility rates, he said, adding several localities have provided financial and medical support for and rewarded women having two kids before they turn 35 with cash or kind.
Financial expert Ngo Tri Long suggested the Government sketch out support policies to encourage couples to have two children, including providing them with concessional loans to buy affordable houses, as well as education and healthcare schemes that help ease the economic burden for them.
If solutions are not put in place soon, Long said, Vietnam will face the risk of losing its abundant young workforce, thus becoming less attractive to FDI firms and large corporations.
According to the General Statistics Office’s Vietnam Population Projection for the 2019-2069 period, the population will fall 0.18% per year during 2064-2069, equivalent to 200,000 people.
