Historically, the policy instituted in 1988 penalized party members for exceeding the child limit, but amidst a declining birthrate—now at 1.91 children per woman—there is a strong push for families to expand. This marks the third consecutive year that the birthrate has dipped below the replacement level of 2.1. The United Nations Population Fund has highlighted that Vietnam is transitioning from an "aging" to "aged" population in just two decades, thereby proliferating fears of labor shortages in the future.
To spur an increase in births, the government has initiated various campaigns, including dating shows and posters aimed at inspiring millennials to become parents. Additionally, Ho Chi Minh City, which reported an especially low fertility rate of 1.39 last year, has introduced financial incentives, such as a baby bonus of approximately $120 for women giving birth to two children before the age of 35. As Vietnam navigates these demographic changes, the stakes for the country's economic sustainability have never been higher.
To spur an increase in births, the government has initiated various campaigns, including dating shows and posters aimed at inspiring millennials to become parents. Additionally, Ho Chi Minh City, which reported an especially low fertility rate of 1.39 last year, has introduced financial incentives, such as a baby bonus of approximately $120 for women giving birth to two children before the age of 35. As Vietnam navigates these demographic changes, the stakes for the country's economic sustainability have never been higher.
