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 the "silver hair economy" - is a concept referring to all activities, products, and services designed and operated to meet the needs of the elderly.
Speaking at the opening, the Prime Minister clearly stated that the world situation is continuing to develop very quickly, complicatedly, and unpredictably, many issues are emerging related to energy security, food security, monetary policy, fiscal policy, macroeconomic stability..., we need to find new driving forces, new resources for development.
These new drivers and new resources both promote both supply and demand, promote development, and ensure fairness, progress, equality and social security.
Currently in the world, the silver economy is becoming an inevitable development trend of humanity.
Vietnam has entered a period of population aging since 2011; the rate of increase in the elderly is increasing rapidly. According to reports from relevant agencies, as of March 2025, the whole country has nearly 17 million elderly people.
This reality is bringing both challenges and opportunities, creating pressure on social security but at the same time is also a driving force to innovate the growth model and sustainable development of the country.
The 14th Party Congress Document not only considers the elderly as beneficiaries of welfare but also as a part of human resources, and also sets a target for the human development index HDI to strive to reach about 0.8; average life expectancy to reach about 75.5 years, of which the minimum healthy lifespan is 68 years, Vietnam strives to be in the group of 40 countries with the highest happiness index in the world.
This is the political basis for the development of the silver economy and the Central Policy and Strategy Committee sets out the task of developing a project to develop the Vietnamese silver economy, in order to improve the welfare and quality of life of the elderly, and promote resources from the elderly to contribute to socio-economic development.
The Government has issued the National Strategy on the Elderly to 2035. Resolution 36 of the Government dated March 6 on the regular Government meeting in February 2026 has proposed solutions to promote high-quality healthcare services - a core pillar of the "silver economy".
According to the Prime Minister, looking further ahead, the political and legal foundation of the silver economy in Vietnam has been quite clearly formed through the Party's guidelines, the State's policies and laws on adapting to population aging, caring for the elderly, promoting the role of the elderly and expanding social security for the elderly.
The current requirement is to unify a very important awareness that the elderly are not a burden but a precious resource for national development.
Clearly stating that the conference is a forum to exchange some issues related to the silver economy, the Prime Minister requested delegates to propose some silver economic development models suitable to Vietnam's circumstances.
Propose solutions to shift from the burden of aging to economic development opportunities, turn challenges into opportunities, both ensuring social security, promoting the great potential of the elderly, and ensuring social progress, justice, and noble humanity.
