越南财政部将推进社会保障工作

Core Insights - The Vietnamese insurance sector has annual premium income exceeding 3% of GDP, with approximately 11% of the population participating in life insurance and millions involved in non-life insurance [1] - By 2024, the number of participants in social insurance is expected to reach 20.1 million, accounting for 42.7% of the workforce, while health insurance coverage is projected to reach 95% by the end of 2025 [1] - Vietnam aims to become a modern industrial and high-income developing country by 2030 and a high-income developed country by 2045, with a focus on developing the insurance market as a channel for medium to long-term financing [1] Insurance Market Development - The finance ministry plans to enhance the effectiveness of social security policies, including social insurance, to ensure social safety and improve the living standards of the population [1] - The strategy includes attracting international investment funds and encouraging public and corporate participation in the insurance market [1] - Innovations in social insurance systems are expected to contribute to social progress and equity, as well as improve the material, spiritual, and health conditions of the people [1]