Special policies pave way for Ha Noi's "silver economy"
VGP - The Ha Noi People's Council has issued a Resolution to promote elderly care services and encourage the employment of older workers across the capital.
The capital is entering a period of rapid population aging. The city is currently home to nearly 1.4 million elderly people, accounting for more than 16 percent of its population. By 2030, this figure is projected to rise to approximately 1.71 million, placing increasing pressure on the healthcare system, social security network, and elderly care services.
In response to this demographic shift, at its mid-year regular session in 2026, the Ha Noi People's Council adopted a Resolution on policies to develop elderly care services and encourage the employment of older workers.
The Resolution serves not only as a response to the new phase of population aging but also establishes a legal framework for the capital city to develop products and services tailored to older people while encouraging senior citizens to remain active contributors to economic development.
Building a "silver economy" ecosystem
One of the Resolution's key highlights is its priority policy for investing in elderly care facilities, accompanied by a range of incentives for investors, including exemptions and reductions in fees, preferential loans, support covering up to 50 percent of the costs of technology adoption and digital transformation, priority access to land, and other investment incentives provided by the city.
At the community level, the Resolution allocates direct financial support for community-based care models. Each daytime elderly care center will receive annual support of at least VND 50 million, while community elderly care clubs will receive a minimum of VND 20 million per year.
Beyond care services, the Resolution also focuses on harnessing the potential of older people. Enterprises with at least 30 percent of their workforce made up of older employees will be eligible for preferential credit and accident insurance support for senior workers. Employment service organizations will receive higher service fees to facilitate job matching for older people.
In addition, the Resolution introduces policies to support elderly entrepreneurship, improve access to innovation and digital transformation funds, provide management training, and enable older entrepreneurs to utilize the city's research and science and technology infrastructure.
These policies reflect a new approach: older people are viewed not only as recipients of care but also as valuable human resources whose experience, knowledge, and credibility can continue to contribute to economic growth, innovation, and community development.
Turning challenges of population aging into driver of growth
The Resolution is expected to establish the legal foundation needed to attract greater private-sector participation in elderly care services while introducing a new governance mindset that transforms the challenges of population aging into a catalyst for socio-economic development. It also provides a basis for balancing economic growth, social welfare, and sustainable urban development.
By encouraging investment in products and services for older people, the Resolution is expected to foster the gradual development of a specialized service market, creating new business opportunities while promoting innovation, technological advancement, and wellness tourism, thereby contributing to Ha Noi's goal of achieving rapid and sustainable development.
Notably, the Resolution seeks to address multiple challenges simultaneously: proactively adapting to population aging, developing a comprehensive elderly care service ecosystem, fostering a specialized market for senior-oriented products, creating more employment opportunities, and unlocking the "gray value"—the experience, expertise, and wisdom—of older people.
These special mechanisms and policies aim to promote products and services for older people while maximizing the contributions of senior citizens to socio-economic development is both timely and necessary. It is fully aligned with Ha Noi's vision of becoming a cultured, civilized, modern, and happy capital city./.
