Aging Population Could Significantly Bolster Workforce Within the Next Decade

People Over Sixty Embrace Entrepreneurship in Vietnam

VIETNAM - bucking the traditional notion that start-ups are solely the realm of the young, some enterprises are being founded by people age sixty and above, who continue to display agility, vitality, and tenacity in their work.

Experts project that over the next ten years, millions of elderly individuals will find themselves in need of entrepreneurial opportunities, vocational training, or new employment.

One such sixty-plus entrepreneur is Hoàng Chuẩn, Director of Hoàng Phú Manufacturing Co., Ltd. Despite his age, Chuẩn remains resolute in producing firewood-roasted cashew nuts.

Located in Bình Phước Province, the company specializes in producing high-quality, delicious, and nutritious cashew nuts. This is all thanks to its exclusive access to local native cashews, sourced from the S'Tiêng and Khmer ethnic groups in Lộc Ninh.

Hoàng Chuẩn, director of Hoàng Phú Manufacturing Co., Ltd. and his cashew nut roasting machine. Photos giaoducthoidai.vn

Chuẩn only buys native cashews from local farmers, eschewing imports to maintain a stable, premium-quality supply. To ensure this, he has established agreements with cashew-growing farmers, creating jobs and providing stable income for the local community.

"In recent years, businesses have proliferated by importing cashews, processing, and re-exporting," Chuẩn said. "But Hoàng Phú has held firm and never relied on imported cashews. During Bình Phước cashew shortages around the Lunar New Year, we've decided to halt production rather than use foreign materials."

Chuẩn noted that imported cashews, when roasted, lack the fragrant aroma and rich taste of Bình Phước cashews. "Consumers are highly discerning. Just one different taste can make it difficult to regain their trust. That's why businesses must always respect consumers and protect their reputation," he concluded.

Nguyễn Văn Khỏe and his mosquito trap device.

Nguyễn Văn Khỏe, an inventor from Đông Nai Province, holding four patents, has returned to the start-up community with plans to establish a company specializing in mosquito trap devices. Age, Khỏe stated, does not necessarily equate to wisdom in business. Despite years in the start-up world, the challenges he faced were no easier than those faced by younger entrepreneurs.

"I no longer prioritize personal gains or financial aspirations," Khỏe told Education & Times newspaper. "I now seek to contribute more to the community and society."

After unveiling a prototype of the mosquito trap before the 2025 Lunar New Year, Khỏe improved the product's design and decided to commercialize it after April 30. "The previous prototype didn't include a dark zone to attract mosquitoes," he said. "Customers provided feedback, and I improved the commercial version by adding a funnel, creating a more effective dark space to lure them in."

Đinh Doãn Phi Hải, Director of POLARIS Medical Equipment Co., Ltd., in HCM City, is an exceptional entrepreneur who commenced a new business venture at nearly 70 years old. Known as the "underwear king," Hải once led a successful underwear brand but found himself outmatched by new local and international competitors investing heavily in advertising.

Facing losses, Hải decided to leave the garment industry. After undergoing treatment for stomach cancer, Ha

Experts anticipate a rise in entrepreneurship among the elderly, as millions might require employment opportunities.
Hoang Chuan, an elderly entrepreneur aged sixty and above, heads Hoang Phu Manufacturing Co., Ltd., specializing in firewood-roasted cashew nuts.
Chuanson's company sources cashews locally from the S'Tieng and Khmer ethnic groups in Loç Ninh, maintaining the premium quality of Biñh Phuoc cashews.
Chuanson only buys local cashews to maintain a stable supply and create jobs, providing income for the local community.
Imported cashews lack the aroma and taste of Biñh Phuoc cashews, a fact that Chuanson believes hinders businesses from regaining consumer trust.
Nguyen Van Khoe, an inventor from Dong Nai Province, has returned to start-ups, aiming to create a company for mosquito trap devices.
Khoe seeks to contribute more to the community rather than prioritize personal gains.
Đinh Doan Phi Hai, a 70-year-old entrepreneur, established POLARIS Medical Equipment Co., Ltd. in HCM City, after a stint in the underwear industry.
Hai, known as the "underwear king," faced stiff competition in the garment industry and left it after suffering losses, re-emerging in the healthcare sector.