(VOVworld) – Social security is one of the fundamental social policies to reflect Vietnam’s direction in development and improved living standards. A number of policies have been implemented in recent years to ensure the people’s right to social security.
Social security is part of Vietnam’s socio-economic development strategy. Vietnam considers ensuring social security a driving force and target during its renewal.

Social security achieved in all areas

Investment in social security accounted for 5.88% of Vietnam’s GDP in 2012 and increased to 6.6% last year. Despite economic difficulties the Vietnamese government has even increased investment in social security by mobilizing capital from foreign aid, businesses, and the people.

Vietnam’s poverty reduction has been acknowledged internationally. Its poverty rate fell from 14.2% in 2010 to 4.5% in 2015. The government has approved a master plan to shift from a single dimension to a multi-dimensional approach to poverty for the 2016-2020 period with a view to achieving sustainable poverty reduction. This new approach is encouraged by the world community to increase incomes and people’s access to basic social services. Prime Minister Nguyen Tan Dung said: “Poverty reduction is a major policy of the Vietnamese Party and state and a sustainable development goal supported by the people and the world community. Our shift to a multi-dimension approach to poverty matches the UN 2030 agenda for sustainable development.”

Effective social security policies helped Vietnam surpass its labor, job creation, and vocational training targets in 2015. 1.6 million jobs were created, the ratio of trained workers was 51.6%, and the unemployment rate in urban areas was 3.35%. Allowances for policy beneficiaries increased 71.2% from 2010. 70.2 million people had social, medical, and unemployment insurance by the end of 2015, up 8.3% from 2014.

Social security to cover entire population

Vietnam aims to ensure social security for everyone by 2020, providing people with greater access to job, poverty reduction, social insurance, and social service policies. Deputy Minister of Labor, Invalids and Social Affairs Nguyen Trong Dam said: “Over the next 5 years we’ll implement a new poverty reduction program and review poverty reduction policies to match the new multi-dimension approach. This will help poor people improve their lives and access basic social services. We’ll continue to work out policies to help vulnerable groups.”

Vietnam is drafting a number of social security-related laws on employment, minimum wage, and social allowances and is considering revisions to the Labor Code, the law on social insurance, the law on persons with disabilities, and the law on the elderly. Le Thi Yen, a member of the National Assembly Committee for Social Affairs, said: “The National Assembly and the government are building policies on people who rendered great service to the revolution. The government will formulate a law on the minimum wage to meet workers’ essential needs. The government has issued social insurance support policies for workers.”