Vietnam Elder Care Industry Training Program Analysis for ABX Company

This report examines the burgeoning elder care industry in Vietnam, driven by healthcare reforms, an aging population, and rising incomes. It analyzes the current situation, including government spending, the need for qualified caregivers, and the growth of nursing homes. The evaluation highlights opportunities for ABX Company to establish training programs, particularly Certificates III and IV in Individual Support and Ageing Support, to address the increasing demand for skilled professionals in this sector. The report also emphasizes the importance of understanding Vietnamese culture to tailor programs effectively and capitalize on the expanding market. The report provides a market analysis of the elder care industry in Vietnam, providing ABX company with a good foundation to decide whether to start operating in the country.

Management
Student’s Name
Institute
Date

Purpose
• The healthcare industry is being renewed in Vietnam. The government promised to enhance the current healthcare sectors and
make it more accessible to the citizens which would spark up the Elder Care sectors in the country.
• ABX Company wants to start operating in Vietnam in the upcoming year. So they are eager to know about the reformed
healthcare industry and the citizens’ reactions to it.
• The purpose of this research is to understand the impact of improved healthcare services. It will also analyze the potential
growth to estimate the benefit of opening a branch in terms of revenue and opportunities (Angelino et al., 2017).
• The research will also reflect whether the citizens are showing interest to join the training programs and involving in the
profession of caregiving to the elderly.

Current Situation
• Vietnam is one of the fastest-growing countries in South East Asia. It is estimated that in 2016 the government has spent $21.6
billion or more just in the healthcare sectors.
• It was started by modifying some laws to improve healthcare services. Among all the healthcare divisions that are on the targets
right now, one would the caregiving sector to the elderly.
• The economy in Vietnam is booming for the last few years and the government is keen on increasing life expectancy by making
more accessible by the mass. This has positively affected the population as it keeps growing rapidly.
• Statistically, almost 25% or more of the country’s population will account for citizens over 60 years old by 2050.
• While the reforms are promising for the mass, the country lacks properly qualified healthcare professionals for this field. After a
certain age, individuals are bound to require genuine support in terms of daily care. Therefore, caregivers need to be properly
trained to provide special support to aged individuals (Zhu et al., 2019).
• So the government is now focused on building nursing homes while also investing in caregivers’ educational and training
programs.

Evaluation
• As the economy is growing, more people have acquired access to monthly incomes. It has helped them to support the elderly
in their family with proper care.
• Moreover, the new reforms have modified the services by building more nursing homes and availing more healthcare
professionals.
• Overall, it has given new hope to the aged individuals in the country to live longer than before. It has also opened up a
considerable amount of opportunities for companies who provide educational and training programs to people who are
interested to join the field professionally.
• With the rapidly growing economy, the number of caregivers required is bound to increase by the next decade.
• This is a great opportunity for ABX Company to start an institution and offer programs that will target this niche (Ward, Cope
& Elmont, 2017). They can also use the research to understand their cultures and shape the programs to fulfil the needs based
on plausible requirements.

References
Angelino, A., Khanh, D.T., An Ha, N. and Pham, T., 2017. Pharmaceutical industry in Vietnam: Sluggish sector in a growing
market. International journal of environmental research and public health, 14(9), p.976.
Ward, C.J., Cope, M.R. and Elmont, L., 2017. Native American Vietnam-era Veterans’ access to VA healthcare: Vulnerability and
resilience in two Montana reservation communities. Journal of community health, 42(5), pp.887-893
Zhu, S., Zhu, W., Qian, W., He, Y. and Huang, J., 2019. A China-Vietnam collaboration for public health care: a preliminary
study. Global health research and policy, 4(1), p.23.
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