Overview of the meeting

At the session, Deputy Director Tran Dinh Lieu extended a warm welcome to the WB delegation and expressed appreciation for the Bank’s continued support to VSS. He emphasized that the WB’s technical advice and assistance, and sharing of international experience have made important contributions to enhancing the effectiveness of VSS operation, advancing the goal of universal social security as set out in Resolution No. 28-NQ/TW.

He also noted that expanding social security coverage remains one of the key priorities of the VSS system in the current situation. VSS highly values the WB’s studies and recommendations on policy reforms, particularly measures to promote the inclusion of informal workers in the social security schemes.

The WB experts presented preliminary findings from their study on the expansion of SI coverage and proposed specific recommendations. WB suggested that the Government of Viet Nam consider increasing the subsidy rate for voluntary SI contributions to 50%, which is expected to triple the current participation rate. The WB also introduced the “Monotax” model – an integrated mechanism combining SI, HI and tax obligations, which is successfully implemented in countries such as Uruguay, Brazil, and Mexico. The model helps simplify administrative procedures, enhance compliance, and encourage participation among micro- and small enterprises.

In addition, the WB shared international experiences on “flexible combined insurance” models that offer both short-term benefits (such as sickness, maternity, and unemployment) and long-term pension benefits. These models could make participation more attractive for informal workers while ensuring the financial sustainability of the fund. Both sides agreed to continue cooperation in key areas, including financial forecasting, expanding coverage to new participant groups, and promoting cashless payment solutions.

The two sides also discussed the possibility of promoting digital transformation in communication and funds management, including online tools co-developed by the WB such as the benefit estimation leaflet, communication videos, and a voluntary SI calculator app to be integrated into the VSS online portal. These tools aim to help citizens easily access information and proactively participate in the schemes.

In conclusion, Deputy Director Tran Dinh Lieu expressed his hope that the WB would continue accompanying and supporting VSS in policy reforms and system modernization, particularly in the fields of digital transformation and coverage expansion. The partnership is expected to provide a solid foundation for improving management effectiveness, enhancing public service delivery, and building a more inclusive and sustainable social security system for all./.