The “Renewal” (Doi Moi) started being implemented in 1986. Since then, Vietnam has engaged in structural reforms and rapid socio-economic development. Vietnam’s economy experienced a fundamental transformation from central planning towards a globally-integrated socialist-oriented market economy. Along with this transformation, the country's job market demands and age structure are shifting rapidly.

Despite impressive achievements in poverty reduction and assurance of minimum income for the elderly, a large number of Vietnamese households are still living just above the poverty line. The elderly still face difficulties in accessing social protection policies. Moreover, social shocks such as climate change and financial crises expose entrenched challenges in executing sustainable poverty reduction and elderly protection. The authors of this analysis discuss recent policy achievements and formulate recommendations to take on these challenges.