Silver Economy in the Context of Population Ageing in Vietnam: A National Transformational Capacity Approach

Abstract: Vietnam is entering a phase of rapid population ageing, while its income level and institutional and technological foundations remain not fully aligned with this demographic transition. This creates significant challenges for economic growth, labor markets, and social security systems. However, in the context of digital transformation and economic restructuring, population ageing should not be viewed merely as a burden, but also as a potential resource if properly harnessed. This study approaches the issue from the perspective of National Transformational Capacity (NTC), aiming to redefine older adults as economic agents capable of generating value through accumulated knowledge, experience, and social networks. Using a case-based analytical approach combined with theoretical reasoning, the study argues that the “silver economy” should be understood as a component of a broader growth transformation strategy. Based on this framework, the paper proposes a policy approach for developing the silver economy in Vietnam through the integration of institutional reform, technological advancement, and labor market restructuring. Keywords: silver economy, population ageing, Vietnam, national transformational capacity, labor market, digital transformation.