Mrs Nguyen Thi Kim Ngan, Vice Chairwoman of the National Assembly

Mrs Truong Thi Mai, Chairwoman of the National Assembly Social Affairs Committee

Mrs. Nguyen Thi Minh, General Director of Vietnam Social Security

Distinguished participants and guests

Ladies and Gentlemen

It is an honor for me to be here at this important event, celebrating the 20^th Anniversary of the Vietnam Social Security. I would like to join Ms. Victoria Kawaka, Country Director of World Bank, in congratulating VSS on this occasion.

20 years; you are still so young! I wish I were that age.

Over the past 20 years, VSS has had a remarkable journey with significant accomplishments. These include its contribution to policy developments in compulsory social insurance, voluntary social insurance and health insurance; better organization of the collection and expenditure of unemployment insurance benefits; and the improved management and use of various funds.

The ILO is proud to have supported the Government’s reform efforts to improve the social security system, including the revision of the Social Insurance Law last year. The law is a significant step in the development of a social protection floor within the context of fiscal sustainability and as part of the national strategy for sustainable growth, prosperity and human security.

As VSS enters its “twenties”, and the new Social Insurance Law is coming into force next year, your role and responsibility will increase. This is the start of your “adulthood”, bringing both opportunities and challenges.

The first challenge is to improve transparency and accountability. Contributors will have to receive regular information on their payments and entitlements.

The second challenge is to expand the coverage of the social security system. The challenge is how to bring employees with short-term contracts, part-time civil servants in local administration, and foreign citizens working in the country into the system and how to reach informal sector workers through voluntary schemes.

The third challenge is to roll back evasion. New information mechanisms with tax authorities and business registration and the new role of VSS in social insurance inspection could lead to a significant reduction in the evasion of the social insurance contribution. These are not easy tasks but all doable.

By addressing these challenges, VSS could make a significant contribution to strengthening social security and social protection in the country. An effective social protection system with broad coverage is especially critical in the context of Vietnam’s deepening integration into global markets and ongoing transformation. Social protection can enhance growth by empowering individuals to seize opportunities that arise in changing markets. At the same time, social protection protects people and their families when it is most needed.

Once again, I would like to congratulate VSS on its significant achievements, to thank it for its excellent and productive partnership with ILO. We stand ready to continue our support and deepen our partnership with VSS in the years to come.

Thank you.