VietNamNet Bridge – Vietnam is entering the aging process at an unprecedented high speed, said Ms. Victoria Kwawa, Country Director of the World Bank (WB) in Vietnam. According to the report “Live Long and Prosper: Aging in East Asia and Pacific”, released by the WB yesterday, Vietnam’s working-age population has peaked and is now declining. The proportion of elderly people in Vietnam is currently at 11%. But in just 10 years, the number of elderly people will account for 1/5 of Vietnam’s population. Thus, the future workforce of Vietnam is at risk of deficiency. The birth rate in Vietnam is currently at 1.8%. Like other countries in the region, this ratio is expected to fall to 1.5% then 1.4%. This phenomenon has occurred in South Korea, China, Thailand and other countries. This can also happen in Vietnam if the government does not have support policies. Vietnam’s demographic of senior citizens aged 65 and older is expected to double from 7 per cent to 14 per cent in 18 years, according to the report. Comparatively, the same demographic is expected to reach 14 per cent in Thailand in 17 years; Laos and Indonesia in 20 years; Timor-Leste, China and Singapore in… Read full this story
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