Ho Chi Minh City, 06 January 2022: The Network for the Development of Business Services for Older Persons in Vietnam made its debut today as a special forum to connect business stakeholders, explore cooperation and seek opportunities in promoting the development of business services for the growing elerly population in the country. The establishment of the Network was earlier recommended by the businesses and related partners during the Business Forum, which was held for the first time in HCM City last year, with the objective of expanding business opportunities to provide services to older persons.

On January 06, 2022, the HCM City Branch of Vietnam Chamber of Commerce and Industry, in collaboration with the United Nations Population Fund (UNFPA), officially launched, online and offline, the Network for the Development of Business Services for Older Persons in Vietnam in the presence of representatives of Government’s ministries and agencies, VCCI-HCM City, UNFPA and senior health care service providers as well as stakeholders.

Addressing the ceremony, Mr. Vo Tan Thanh - Vice President of the VCCI and General Director of VCCI-HCM stated: “The increasing demand and more diversified needs of older persons present numerous opportunities for domestic and foreign businesses and investors in Viet Nam. Fully recognizing the importance and necessity of formulating a network of stakeholders to promote the development of this potential service industry, VCCI, as a representative organization of the business community to perform the functions of trade and investment promotion in Vietnam, will strongly and effectively support the network's operation in the coming time.”

Ms. Naomi Kitahara, the UNFPA Representative in Vietnam also shared the same view. She emphasized: “The Network is designed to contribute to developing a diverse senior care service industry in terms of types, sizes and fields of operation, meeting the growing needs of older persons, promoting business links, and attracting domestic and foreign investors. The Network also supports the development of human resources with qualifications and skills to work in the senior care service industry. UNFPA is delighted to contribute to the establishment of the Network.”

The Network has been developed with technical support from UNFPA and financial support from the Government of Japan through the Project "Mitigating the negative impacts of COVID-19 on vulnerable population groups - Ensuring National Progress to Achieve SDGs in Viet Nam".

Note to editors:

• Vietnam’s population ageing is progressing fast due to mortality and fertility declines. In 2020, older people aged 65 and above accounted for 8% of the population, and it is estimated that by 2036, Vietnam will transit from the “ageing” to the “aged” country where those aged 65 and above will be 14% of the total population.
• The Ministry of Labour, Invalids and Social Affairs estimates that the number of older persons who require daily care will increase from 4 million people in 2019 to around 10 million by 2030.
• According to the Report on Market Outlook for Elderly Care Service in Vietnam conducted by VCCI earlier, it has been estimated that the domestic service market for older persons is very promising with 20 million "potential customers" by 2035.

For more information, please contact:

• VCCI: Ms. Nguyen Song Phuong Thao: bea@vcci-hcm.org.vn, 0906821203
• UNFPA Communications Officer: Ms. Dinh Thu Huong, Email: dhuong@unfpa.org, Phone: 091330139