In the last 25 years, Vietnam has been one of the fastest growing economies in Asia. Regarding social protection and social insurance, there are many practical challenges ahead. In 2012, only 10.4 million workers were enrolled in compulsory social insurance, less than 20% of the total workforce. Furthermore, there are more than 1 million people entering the labour market every year. Recent work has shown different approaches and proposals for social insurance reform, in particular regarding access to social insurance and social insurance benefits. The current paper expands the analysis regarding social protection in Vietnam by looking at the new Constitution and the revision of the social insurance law. Both developments may have an enormous impact on social protection in Vietnam as will be elaborated. The analysis also shows that the prevalence of the legislation and the executive acts has risen over the last few years. This indicates that the government is about to implement a rights-based and law-based social protection system in accordance with the rule of law. Furthermore, the paper shows that the ambitious social protection goals in Vietnam require effective, systematic and comprehensive policies for social protection. It is, rather, the structural deficits which endanger the sustainability of the entire system. The reason for this can be found not only in the shortcomings of the existing law, but more specifically in the deficits in implementing the law. As an emerging economy with increasing integration into the world trade, Vietnam will be increasingly exposed to global economic downturns and external economic shocks. The country's overall socio-economic development and changes in family structures will also yield new risks. In the future, the overall social protection system will have to target these new risks and new groups.
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