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Official Gazette

Monday, October 3, 2022

Draft strategy aims at expansion of insurance coverage

Updated: 14:23’ - 01/09/2022
Vietnam sets the target of 60 percent of its workforce participating in social insurance, 45 percent of employees covered by unemployment insurance, and health insurance coverage rate reaching 97.1 percent by 2030.

These goals are proposed by the Vietnam Social Security (VSS) in the latest draft strategy for development of social insurance sector by 2030, with a vision toward 2045.

All administrative procedures in the social security sector would be processed and settled without relying on administrative boundaries with the satisfaction rate reaching at least 95 percent.  By 2045, all professional operations of the VSS would be carried out in the “Digital Ecosystem 4.0”.

The draft sets out 12 specific objectives for the social security sector, including: proactively and actively participating in the formulation of policies and laws on social security; reaching targets on participants in social insurance, unemployment insurance, and health insurance; strictly controlling and transparentizing the financial situation of insurance funds; diversifying investment portfolios of insurance funds toward safety, sustainability and efficiency; improving the quality of services provided to people and enterprises; renewing public communication methods; raising the quality of human resources; and applying information technology and digital transformation, among others.- (VLLF) 

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