Vietnam Will Be Old Before It Can Be Rich

Is Vietnam going to miss the chance for helping its economy “take off”?

Ever since, Vietnam has always been considered a relatively young country, with an average age of 26. However, the number of people in this age group is declining remarkably. Since the past decade, when the birth rate has been decreasing, due to the pressure from a busy life. This will lead to a decline in the working-age population while Vietnam’s economy is too young, and it still needs a lot of manpower. In addition, the proportion of the working-age population decreases, but the proportion of the elderly who are unable to generate income and rely on children or social support increases. This leads to an increase in the burden on other workers in particular and society in general. Vietnam is beginning to implement policies to reduce the financial burden from older people. Last year, Vietnam untied its retirement age and provided certain remedies in the pension law to improve the health and well-being system.

However, Vietnam is still an agricultural country, requiring labor who are in the working age and healthy. Therefore, if there is no active initiative in changing the structure of the economy, society,… the population of Vietnam may fall into the old state before becoming rich. The worse situation is that Vietnam may miss its “golden population”, which is demonstrated that every 2 people with income will take care of one person with no income. If the aging process and ineffective production due to old technologies are going on, Vietnam will miss their chances to “take off” the economy. According to The Economist, Vietnam will get old before it gets rich.

This content is also available in: Tiếng Việt

#seesomething, saysomething

Culture Magazin magazine always wants to listen and receive contributions from readers.
In case you submit articles about your ideas, interesting social events or hot news that you would like to share with us, email us at info@culturerus.com or inbox us at the FB page – https://www.facebook.com/culturemagazin.
Try our test reporter once. Quality articles will be selected and posted on Culturemagazin’s website and official social networking sites!
#seesomething, saysomething

Previous articleBegin Again
Next articleSkiing in Japan

Discover

Bài Liên Quan

As Canadian oil sands site fights infections, some want fewer fly-in workers

Reported By: Rod Nickel and Jeff Lewis WINNIPEG, Manitoba/TORONTO, May 12 (Reuters) - A coronavirus outbreak at a Canadian...

China’s Wuhan says it has tested almost a third of its citizens for coronavirus

Reported by: Reuters SHANGHAI/BEIJING (Reuters) - China's Wuhan said on Friday it has tested over 3 million of its...

Innermost feelings of a 29-year-old Vietnamese woman living in Canada.

https://youtu.be/pttaDxaw84s At age 29, married with a 3-year-old child, everything in my life was running smoothly… until...

How One Little Girl Inspired Help for Thousands

Xuan - The Charitable Journey of a Vietnamese-French Doctor Xuan is a charity founded by Vietnamese-French doctor Tran...

Kayla Nguyen, a Vietnamese-American makes learning Vietnamese less stressful and more fun through Vietglish Fun

Kayla Nguyen is a YouTube sensation who is well loved by both young Vietnamese and second generation Vietnamese. Kayla and her...

A Letter to Mom

My mother! A woman I admire the most in the world. Mommy! The first sentence I spoke in this world. I am very...

How to Cook A Delicious Vegan Beef Stew

Culture Magazin is back in the kitchen to share another quick and easy tasty recipe for you to try out!

This content is also available in: Tiếng Việt