VIETNAM EYES SILVER ECONOMY TO FUEL GROWTH AMID RAPID AGING

The silver economy offers a new perspective on population ageing: instead of treating it as a burden, it is seen as a major economic opportunity. The model covers products, services and economic activities tailored to older citizens, typically those aged 50 to 60 and above, turning them into a powerful consumer base and a new engine of growth.

Asia is proving that ageing can be a cash cow. Japan, which started going grey back in the 1970s, has gone past basic systems and rolled out senior-friendly housing, robot-powered healthcare, top-notch nursing, lifelong education and leisure services just for the elderly. The shift has enabled the elderly to live more independently while companies raked in billions from exploding new markets, with care robots that stole the show at Expo 2025.

China has been scrambling even harder. From 2022 - 2024, Beijing made the silver economy a national strategy. The market’s worth a staggering 15-17 trillion CNY (2-2.2 trillion USD), pumping serious juice into GDP and on track to make up more than 10% of the entire economy by 2035.

Singapore, meanwhile, is staring down “super-aged” status in 2026 and calling the silver economy a straight-up “gold mine”. Its value was estimated at 72 billion USD last year, with big bets on telemedicine, senior-friendly homes, and rules that actually encourage old folks to keep working and learning for life. Malaysia is gearing up for its own ageing crunch by 2044, putting seniors to work as advisors while expanding retirement and leisure spots. Across Asia, ageing isn’t the end of the road, but the start of a new economic boom.

From “priceless asset” to hard cash

If Vietnam wants in on this silver rush, it’ll need a balanced “three-pillar” model that puts older people at the centre as both valuable contributors and eager consumers. Seniors bring decades of know-how and experience, while creating huge demand for healthcare, tourism and lifelong learning. Firms play a central role in driving innovation and implementation, shouldering social responsibility by creating a friendly work environment and providing specialised products, while the Government serves as an “institutional architect” setting up clear rules, incentives, and a rock-solid social safety net.

The late President Ho Chi Minh famously called them a “priceless asset of the nation and the State.” Fast-forward to today, Party General Secretary To Lam told the Vietnam Association of the Elderly (VAE) that seniors are a valuable national resource and a “national pillar”, not a social burden. He pushed hard for better healthcare and community care setups to fight loneliness and keep older folks active and happy.

In fact, Vietnam tipped into an ageing society back in 2011. By 2024, it already had roughly 14.2 million people aged 60 and above, or more than 14% of the population. The figure is expected to balloon to nearly 18 million by 2030, presenting a golden opportunity for developing the silver economy.

The political and legal groundwork is slowly coming together. The Party Central Committee’s Commission for Policies and Strategies is busy drafting a full national silver economy plan, tied to the action plan for the 14th National Party Congress’s resolution. The Government also issued a national strategy for older persons through 2035 and a 2026 resolution promising big breakthroughs in quality healthcare.

Just recently at a silver economy conference, the Prime Minister laid out five big priorities: get everyone hyped about the opportunities of ageing, build a full-blown healthcare system for seniors, push companies to create all kinds of services, celebrate what the elderly contribute, and give the VAE more muscle.

Clearing policy bottlenecks

Despite momentum, experts warned that Vietnam still has to smash through a pile of policy roadblocks before this silver dream turns real.

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Serious cash from both the State and private players to build proper care facilities are needed, and tax breaks and cheap loans could lure big investors in a hurry.

United Nations Resident Coordinator in Vietnam Pauline Tamesis

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I welcome Vietnam’s existing action plan for older persons through 2030. WHO suggests faster action on primary healthcare, a nationwide long-term care system, and better teamwork across sectors to make the whole country actually senior-friendly.

World Health Organisation Representative in Vietnam Angela Pratt

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I want better rules for the carbon market and ways to get older folks involved in forestry and eco-friendly “circular” farming. I call digital training so that seniors can plug their wisdom into platforms and help Vietnam hit its net-zero goal by 2050.

Chairman of CT Group Tran Kim Chung

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Focus should be on circular agriculture and policy support so that seniors could jump into clean farming with better tech, cheap loans, and green-friendly crops.

Chairman of Que Lam Group Nguyen Hong Lam

With backing from international organisations and determination from the Government and business community, Vietnam could flip its ageing headache into a serious growth machine. Building the silver economy isn’t just about stacking more cash, it’s about creating a kinder, more inclusive country where grey-haired citizens stay in the game and keep driving the nation forward./.