Vietnam's Prime Minister Pham Minh Chinh has called for stronger policies to develop the country's "silver economy", urging policymakers and businesses to view the nation's rapidly ageing population as an opportunity for growth rather than a social burden.
Speaking at an online conference on the silver economy on Wednesday, March 11, the prime minister said that older citizens should be recognised as an important asset in Vietnam's long-term development. The event was jointly organised by the Vietnam Association of the Elderly and the Ministry of Health of Vietnam.
Chinh added that the country must shift its mindset about population ageing. Instead of seeing it as a challenge, he said Vietnam should treat it as a new engine of economic development that can contribute to sustainable growth.
"The elderly are not a burden, but a precious resource for the country's development," the prime minister said, as quoted by The Star.
He added that an ageing population should be regarded as "a new driver, opportunity and resource for development".
Chinh also highlighted the valuable contributions that older people can make to society. He described senior citizens as "living dictionaries" and a "treasure of wisdom", noting that many possess decades of experience in management, production and innovation. He said that their knowledge and skills can continue to benefit the nation if properly supported and integrated into economic and social activities.
The prime minister also referred to older generations as a "golden generation", emphasising their role in preserving traditions, sharing cultural values and guiding younger generations.
Vietnam, like many countries in Asia, is experiencing a steady rise in the proportion of elderly citizens as life expectancy increases and birth rates decline. The government has been exploring ways to harness this demographic shift by promoting industries and services that cater to older adults while encouraging their continued participation in economic and community life.
Chinh's remarks come amid growing discussions about the potential of the silver economy, which includes sectors such as healthcare, elderly care services, financial planning, tourism and technology designed to support ageing populations.
He concluded that by strengthening policies and support systems, Vietnam can ensure that its ageing society becomes a source of vitality and innovation rather than a strain on public resources.
