The nation is also grappling with several structural barriers that hamper productivity growth.

With a population of over 100 million, Vietnam is currently the 15th most populous country in the world. According to the General Statistics Office, Vietnam's population size will continue to grow at a slower rate.

Vietnam is working to improve its fertility rate as the country is facing the risks of an aging population as well as losing its “golden population” phase that affect the socio-economic development.

Vietnam officially became one of 15 countries in the world with a population exceeding 100 million in 2023. Labour experts have suggested that the country introduce policies to leverage its abundant young workforce and adapt to an aging population within the next 10 to 15 years.

Many enterprises in Vietnam, both domestic and foreign, are facing challenges related to a shortage of labour.

From 2007, Vietnam entered the golden population, as quality of population improved in various spheres. The country’s average life expectancy rose quickly to 73.5 in 2018.

Though Vietnam has a golden population structure until 2042, with the rapid population aging speed like at present, economic gains from population will sharply decline from 2019.

Party General Secretary Nguyen Phu Trong has underlined the need to roll out feasible policies and measures to reform the growth model, restructure the economy and State budget, and control bad debts.

Vietnam’s manufacturing and processing industry attracted 12,075 foreign-invested projects with a total registered capital of 180.68 billion USD as of late June.