HANOI, June 17 (Xinhua) -- The aging population and unique characteristics of the elderly group in Vietnam pose many economic and social challenges, but there are also golden opportunities for the country to develop a silver economy, Vietnam News Agency reported Monday, citing Doan Van Binh, vice president of the Vietnam Real Estate Association.
He said the rise of the silver economy reflected a societal re-evaluation of the elderly, which no longer views them as an economic burden, but recognizes their contribution to society and their consumption potential.
Based on Vietnam's actual conditions and the experience of some countries, Vietnam should immediately begin researching, creating a vision, building policies and laws, and setting up specific strategies and action plans to activate and develop the silver economy, he said.
The older generation in Vietnam currently accounts for 8.3 percent of the total population, or 8.16 million, according to the country's Ministry of Labour, Invalids and Social Affairs.
It is forecast that the number will increase to 16.8 million by 2039 and 25.2 million by 2069. ■
