Efforts to develop the labor market will continue being implemented in 2025, with a key focus on ensuring sustainable employment and livelihoods. The Ministry of Labor, Invalids, and Social Affairs (MOLISA) aims to build, connect, and effectively regulate labor supply and demand while encouraging job creation in both the public and private sectors.

According to MOLISA, in 2024, the ministry continued to direct the synchronized implementation of labor market development solutions, emphasizing flexible, modern, efficient, sustainable, and integrated labor market programs and projects to support rapid socio-economic recovery.

Additionally, MOLISA has instructed relevant units and localities to monitor and assess labor market trends nationwide, especially labor shortages in key industrial zones such as Bình Dương, Đồng Nai, Ho Chi Minh City, Bắc Ninh, and Bắc Giang. This ensures timely labor supply solutions to meet business demands. The connection between labor supply and demand, particularly the exchange of employment information between labor-abundant provinces and key economic zones, has been strengthened. Job fairs and employment loan disbursements have been actively promoted, creating employment opportunities for 1.5 to 1.6 million people annually.

Effective policies for job creation loans from the National Employment Fund and other preferential credit sources have been implemented. Labor management has been increasingly linked to population databases and other digital platforms under Project 06. As of December 2024, over 39.5 million worker records have been integrated into the national population database.

The synchronized implementation of labor market recovery and development solutions has yielded positive results, helping industrial zones, export processing zones, and key economic regions maintain a stable workforce and meet labor demands for national economic growth. In addition, efforts to recruit, train, and send workers abroad under contractual agreements have been enhanced and more tightly managed. Overseas labor deployment has recovered rapidly, with increasing numbers and improving quality of workers, generating significant foreign exchange earnings for domestic socio-economic development. Currently, over 700,000 Vietnamese workers are employed abroad under contracts, earning stable incomes and remitting approximately USD 3.5–4 billion annually.

Furthermore, some localities have organized support and counseling programs for workers returning from overseas contracts to reintegrate into the domestic labor market. Efforts to protect workers’ legal rights and interests have also been strengthened. In 2024, around 150,000 Vietnamese workers were sent abroad under contracts, exceeding the annual plan by 120%.

Labor Market Challenges and Solutions for 2025

However, MOLISA's assessment indicates slight labor shortages in key regions with dense industrial and export processing zones. A rapid survey by the ministry found that while labor shortages exist, they are not severe. The primary reason is that some large enterprises received additional orders for the year-end holiday season but lacked pre-prepared workforce plans. Most of the labor shortages involve unskilled workers in the textile, garment, and electronics assembly sectors.

Although employment rates have increased, the labor market remains unstable, with a high proportion of informal workers. Additionally, labor supply quality remains inconsistent, failing to meet the demands of a modern, flexible, sustainable, and integrated labor market. Currently, approximately 37.8 million workers have not received any formal vocational training, with only 28.1% of the workforce holding vocational certificates or degrees.

Against this backdrop, the labor market development strategy for 2025 will continue to focus on ensuring sustainable employment and livelihoods. Key priorities include improving labor market information systems and employment databases, effectively balancing labor supply and demand, and fostering job creation in both public and private sectors. Workers will be encouraged to seek and move to suitable employment based on their skills and preferences, with special attention given to the youth, middle-aged workers, vulnerable groups, and women.

A major goal for 2025 is to formalize informal employment by accelerating the transition of informal workers into formal jobs. Support will be prioritized for rural-to-urban migrant workers, industrial zone employees, and border region laborers. Additionally, efforts will be made to enhance workforce forecasting capabilities to anticipate labor demand and vocational training needs based on business requirements in terms of quantity, quality, industry structure, and skill levels.

Another key measure aims to stabilize and expand Vietnam’s traditional overseas labor markets while developing high-income labor markets that match Vietnamese workers’ skills and qualifications. Additionally, labor management and work permit issuance for foreign workers in Vietnam will be strengthened to balance foreign labor supply with domestic labor quality improvements.

Over 45,000 Female Workers Trained, More than 55,000 Introduced to Jobs

According to the Vietnam Women’s Union, in 2024, thousands of training workshops, trade fairs, exhibitions, and promotional events were organized to support women’s economic development. As a result, over 45,000 female workers received vocational training, and more than 55,000 were introduced to job opportunities.

In collaboration with the Vietnam Bank for Social Policies, efforts were made to enhance women’s access to credit. Awareness campaigns on policy credit and lending regulations were conducted for union members, along with financial literacy programs to improve women’s access to loans.

Specifically, over 65,000 informational sessions were held on women’s economic empowerment, integrating social policy credit topics, reaching over 7 million women. Additionally, trust-based lending activities were reviewed in 16 provinces, 14 districts, and cities. Training was provided to 23,687 grassroots union officials involved in credit management. The Ministry of Public Security was also invited to share insights on cybersecurity and fraud prevention in financial and banking transactions.

The Vietnam Women’s Union also collaborated with relevant units to organize thousands of vocational training workshops, trade fairs, exhibitions, and promotional events, benefiting over 45,000 female workers with vocational training and introducing over 55,000 to job opportunities.

Specialized training sessions were held for women receiving loans under the Job Creation Loan Program, targeting the poor households, near-poor households, and newly lifted-out-of-poverty families. Additionally, 90 training sessions were conducted for union officials, businesses, cooperatives, and disadvantaged women.

Support was also provided for women participating in collective economic models. In 2024, 246 new cooperatives were established, attracting 2,297 female members and creating jobs for 5,861 female workers. Additionally, 678 cooperative groups with 5,438 female members were formed, generating employment for 7,350 women. Existing cooperatives received assistance in improving operational efficiency. The 2024 Women’s Startup Competition was held with the theme "Women’s Entrepreneurship, Innovation, and Green Transformation."

Proposals for 2025

To enhance the effectiveness of entrusted lending programs in 2025, the Vietnam Women’s Union has proposed several recommendations, including:

• Adjusting regulations on interest rates for social housing loans.
• Strengthening coordination in training and supporting officials managing entrusted lending.
• Improving operational methods of savings and credit groups.
• Updating features in the Credit Management Application (App).
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