Insurance sector adopts international integration strategy

Hanoi (VNA) – The Prime Minister has approved the insurance sector’s strategy on international integration to 2020 with a vision towards 2030, which aims for a sound and efficient social welfare system to meet international standards as well as conventions in which Vietnam is a member.

The strategy targets 35 percent of total workforce to be covered by unemployment insurance and 50 percent to have social insurance. It also looks to have over 80 percent of the population joining health insurance by 2020.

It has set to perfect social and health insurance policies and their implementation for labourers in bilateral and multilateral agreements, helping narrow the sector’s gap with other countries in the region.

Under the strategy, Vietnam will join international agreements in the field in order to serve the demands of employers and employees in the context of international integration.

A modern social insurance management model is expected to be completed by 2030, meeting the globe’s trend of the free flow of labour while ensuring all Vietnamese citizens, including overseas Vietnamese, will benefit from social and health insurances.

The strategy will also implement international cooperation programmes with numerous countries, territories, and regional and international social welfare organisations, hailing from Europe, North America, the Middle East and Africa.-VNA