At a recent meeting, Deputy Director General of VSS, Dao Viet Anh, highlighted the World Bank (WB) as a significant donor and key partner in enhancing social insurance policies' effectiveness. The WB plays an essential role in developing universal health insurance, refining regulations and policies on social and health insurance, supporting the modernisation of the social security industry, and improving the efficiency of fund investment management. The WB's technical assistance projects for VSS have consistently contributed to the creation of a streamlined, professional, modern, reliable, and transparent system for implementing social and health insurance policies.

In recent times, VSS has collaborated extensively with the WB to implement several technical assistance programmes, including: Providing technical support for the development of the revised Social Insurance Law; Enhancing the efficiency of expanding voluntary social insurance coverage; Sharing international experiences and best practices on expanding voluntary social insurance coverage through thematic workshops; Conducting long-term financial forecasts of the social insurance fund; and Training staff on the PROST forecasting model.

 A whole view of the meeting

In discussing the implementation of social insurance policies, Deputy Director General Dao Viet Anh emphasised VSS's approach, which is centered around five core principles: good policies, good coordination, good service, good inspection and examination, and good communication. VSS is committed to ensuring the best benefits for participants while promoting administrative procedure reform, adopting IT solutions, and enhancing the qualifications, expertise, and service spirit of the industry's public officials and employees.

VSS consistently focuses on advising and proposing the inclusion of targets and plans for implementing the roadmap for social and health insurance in local resolutions and socio-economic development programmes. This includes establishing and consolidating Steering Committees for implementing social and health insurance policies at all levels and developing specific mechanisms and policies to provide additional support from local budgets for people participating in voluntary social insurance and household health insurance, alongside the State's regulations.

VSS has employed various methods to achieve these goals, such as: Coordinating with ministries, sectors, and socio-political organisations; Innovating the content and forms of communication on a monthly basis; Organising numerous events with different scopes, including seminars, dialogues, training sessions, and more; and Promoting widespread communication about the meaning, value, and benefits of participating in and enjoying social insurance policies through various forms. These efforts have contributed significantly to increasing the coverage of social and health insurance.

Deputy Director General Dao Viet Anh chairs the meeting

During the working session, Mr. Robert J. Palacios highlighted the effectiveness of past cooperative activities between VSS and the World Bank (WB). These activities have notably included the organisation of several international consultation workshops, aimed at contributing to the drafting of the amended Law on Social Insurance. Additionally, the WB has supported the development of a pension calculation spreadsheet for voluntary social insurance participants.

Mr. Robert J. Palacios emphasised the critical importance of the amended Law on Social Insurance 2024, due to its significant reforms. Notably, these reforms create numerous favorable conditions for expanding social insurance coverage to informal groups. Consequently, the WB will collaborate with VSS to discuss proposals aimed at increasing government subsidies for voluntary social insurance participants. They will also explore options for increasing social insurance contribution subsidies from the WB, to help VSS achieve its target by 2030.

 Robert J.Palacios- Senior Pension Economist at the World Bank delivers remarks at the meeting

In addition, both sides will continue the exchange of policy recommendations aimed at expanding social insurance coverage for workers in the informal sector. The WB will offer proposals for developing mechanisms to encourage participation in social insurance among workers on technology service platforms. Moreover, the WB has proposed that the VSS organise a study tour for the Egyptian Social Insurance Authority focused on digital transformation and expanding social insurance coverage for informal sector workers.

"Currently, social insurance coverage stands at only around 34 per cent. To achieve the government's target of 60 per cent by 2030, further policy reforms and improved implementation efficiency are required. The WB recommends that VSS enhance communication effectiveness, provide pension calculation tools for participants, and improve technology application in the voluntary social insurance programme's implementation," recommended Mr. Robert J. Palacios.

Acknowledging the World Bank's (WB) suggestions and recommendations, Deputy Director General Dao Viet Anh expressed his desire for the WB to support VSS in finalising the jointly developed products, ensuring these products align with VSS's future tasks and needs. He also requested the WB to organise capacity-building activities for the industry’s staff, creating opportunities for VSS officials to learn and exchange experiences with foreign partners and organizations that have good practices in areas of high concern and focus for the sector.

Furthermore, he requested continued support from the WB in building and issuing the industry's Data Strategy, sharing international experiences with VSS on data governance, publishing catalogs of open data and big data from ministries, sectors, and agencies. This will prepare infrastructure, technology, and ensure cybersecurity for the development of national data. He also asked for updated fund balance forecasts based on changes in the amended Social Insurance Law and continued training for VSS staff to use the forecasting model. Simultaneously, he emphasised the need to improve operational efficiency, expand coverage—especially for the informal labor group—and implement ongoing cooperation activities and projects between both sides./.