On March 11, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired a Conference on the situation of silver economic development in the world and adapting to Vietnam's policies and strategies.
The silver economy - also known as "silver hair economy" - is a concept used to refer to all activities, products, and services designed to meet the needs of the elderly.
Concluding, the Prime Minister clearly stated that we have formed 2 foundational factors in thinking and awareness for the development of the "silver economy":
First, population aging is no longer a challenge or risk, but on the contrary, it opens up a driving force, opportunity and resource for development - "living dictionaries", "brain treasures", "golden generation" of the country in terms of tradition, management experience, management, production skills, and creative knowledge.
Second, the resource of the elderly is the precious asset of the nation, is an important force of the country, is the foundational support of the family and society; both a "seer", a "nurserer", a "transmitter", and a motivator, inspiring future generations.
Orienting the development of the silver economy in the coming time, the Prime Minister clearly stated that developing the silver economy with the spirit of shifting from the "weight of aging" to "economic development opportunities" is associated with the implementation of the Resolution of the 14th Party Congress, the National Strategy on the Elderly to 2035.
Regarding key tasks and solutions, the Prime Minister raised the question: How to turn the silver economy into a growth engine, transform the challenge of aging into a breakthrough opportunity for the nation? That is a big question, a strategic problem of thinking and action posed in the new era.
It is necessary to focus on building and perfecting the institution of inclusive and comprehensive silver economic development in the direction of soon completing the overall institutional framework on silver economics to be included in the national, sectoral, field and local development strategies and plans; identifying this as a long-term, inter-sectoral development orientation, not just a single social security policy.
The Ministry of Finance submits to the Prime Minister for consideration and promulgation of the Silver Economy Strategy to 2045 in the second quarter of 2026, focusing on financial mechanisms, supporting and encouraging businesses to participate.
The Prime Minister assigned the Ministry of Industry and Trade to preside over, research, and build models for developing the silver economic ecosystem, ensuring the integration of technology, services, and production factors suitable to the needs of the elderly.
The Ministry of Home Affairs urgently guides the consolidation of the grassroots-level elderly association organization; review and advise on mechanisms to create jobs and support livelihoods for the elderly to participate in contributing to socio-economic development.
The Ministry of Public Security builds a national database on the elderly to serve as a basis for advising and proposing policies.
Focus on training and improving the quality of human resources to serve the development of the silver economy. This is a key stage with the spirit that without high-quality human resources, there cannot be a high-quality silver economy; in which focus: Expanding training in the fields of elderly health care.
Innovate and build a capacity framework and training programs; standardize the force of direct health care for the elderly; strengthen links between the State, schools, businesses and service establishments; expand international cooperation, apply digital technology in training.
The Head of Government emphasized that population aging is an inevitable trend of the development process; the issue raised is not to avoid it, but to proactively adapt with correct thinking, sound policies and drastic and effective actions - to develop a comprehensive and sustainable silver economic ecosystem to become a new driving force for growth, innovation and sustainable development.
