00:00 The government has set a goal of being a high income country by 2045.
00:05 By that stage,
00:06 Vietnam will find itself an aging country as well.
00:10 This means a different approach to
00:13 managing demography,
00:14 a different approach to managing economic development.
00:17 And in particular,
00:19 it means an emphasis on investing in human capital,
00:23 and it means that we have to invest in human capital in a number of ways.
00:27 If we are going to have fewer workers in the future,
00:30 each worker has to be able to deliver more.
00:33 They need to have higher skills than they do at the moment.
00:36 Well,
00:36 one area that we need to pay attention to is getting a
00:40 strong pension fund in place.
00:43 It means expanding the coverage of the pension system.
00:47 And it means
00:49 upping the contributions to the pension scheme.
00:52 These will have to be tackled now
00:54 in order for the pension scheme to be in the right place.
00:57 We also suggest that attention is paid to
01:00 the kind of services that
01:02 older population will be needing.
01:04 So this includes
01:07 Healthcare services,
01:08 of course.
01:09 At the moment the healthcare services are
01:11 very preoccupied with managing the COVID crisis,
01:14 but thinking forwards,
01:16 we need to be thinking about the
01:17 kind of health services that elderly populations require
01:21 and start building the capacity for those services to be in place.
01:25 We also need to think about broader care services for the older population.
01:31 And much of this can be provided by the private sector,
01:33 as long as there is an adequate
01:35 and strong regulatory framework in place.
01:39 So there's more,
01:39 more details available in this report.
01:42 We invite you to read it and we invite you to send us your comments and thoughts.
01:45 Thank you.
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