Version A
For many workers, happiness comes from earning a living wage, ensuring their children can stay in school without financial constraints, and not falling into debt if they fall ill.
For farmers, happiness is having crops unaffected by weather fluctuations, and the ability to participate fairly with a voice in the value chain.
For women, happiness is found in sharing housework, gaining respect, having a voice, and enjoying equal access to educational, work, and advancement opportunities.
These aspects, crucial for well-being, often go beyond the scope of the GDP index, commonly used to gauge a country's development. It is essential not to limit our assessment to GDP alone; growth should be steered toward fostering a healthy, equitable, and content society while preserving the environment for future generations.
The Human Economy cares about people and the Planet.
Vietnam currently holds the 15th position globally and is second in Southeast Asia concerning the export turnover of agricultural, forestry, and fishery products. Despite this, farmers continue to grapple with low income.
Small-scale farmers encounter numerous challenges, including limited technical expertise, outdated production methods that do not align with international standards, and intricate agricultural value chains characterized by numerous stakeholders. Additionally, farmers face risks associated with epidemics, climate change, shifts in consumer preferences, and evolving market standards.
To indirectly uplift farmers' income, you can select brands that adhere to responsible business philosophies: respecting human rights, protecting the environment, and equitably sharing benefits and risks throughout the value chain.
Too often you will hear phrases like "A women’s place is in the kitchen," or "Men build houses, women build homes." Perhaps you've encountered mothers and aunts who, after an 8-hour workday, juggle children in one hand while cooking with the other.
The estimated value of unpaid care work by Vietnamese women is a staggering 996 trillion VND. Unfortunately, this vital contribution isn't acknowledged in the national GDP and isn't given the attention it deserves.
Real change begins with a proper recognition of the value of care work within families and its impact on the economy. Taking the first step can be as simple as sharing housework and care responsibilities in your family today.
Many Vietnamese people hesitate to seek medical attention when feeling unwell, driven by fears such as the apprehension of a diagnosis, lack of a caregiver, or financial constraints.
Despite health insurance covering 91% of the population, a significant portion in Vietnam still faces the risk of falling into poverty due to out-of-pocket healthcare expenses. Vietnamese individuals bear 43%* of the total medical costs, which is twice the recommended amount by the World Health Organization (WHO). These costs encompass hospital fees, testing expenses, medication, equipment, and additional expenses like travel and accommodation when visiting a doctor.
A Human Economy prioritizes the well-being of its people, ensuring equal and accessible education and healthcare for all. It is a system where individuals need not worry about borrowing money to afford healthcare and can avoid the threat of falling into poverty each time they fall ill.
What criteria do you consider when selecting a job?
The hiring process isn't just about companies choosing you; it's also about you choosing the right company. Pay attention to the company's employee policies. Do they offer equal opportunities for learning and advancement? Do they provide social insurance? What's their stance on work-life balance?
Consider checking the business's ESG (Environmental, Social, Governance) Standards rankings. ESG evaluates businesses across three key aspects:
- E (Environmental): Examining factors like carbon emissions, water and waste management, and raw material supply.
- S (Social): Assessing diversity, equity and inclusion, labor management, and security and data privacy.
- G (Governance): Reviewing corporate governance, business ethics, and protection of intellectual property rights.
Version B
How businesses pursue their business model not only impacts them but the entire society. A business model that prioritizes human rights, safeguards the environment, and ensures equitable distribution of benefits and risks throughout the value chain, alongside achieving commercial success, is the future of business.
Your choice as a consumer plays a pivotal role in compelling companies to shift their business philosophy from prioritizing profits alone.
Consider checking the business's ESG (Environmental, Social, Governance) Standards rankings. ESG evaluates businesses across three key aspects:
- E (Environmental): Examining factors like carbon emissions, water and waste management, and raw material supply.
- S (Social): Assessing diversity, equity and inclusion, labor management, and security and data privacy.
- G (Governance): Reviewing corporate governance, business ethics, and protection of intellectual property rights.
Vietnam currently holds the 15th position globally and is second in Southeast Asia concerning the export turnover of agricultural, forestry, and fishery products. Despite this, farmers continue to grapple with low income.
Small-scale farmers encounter numerous challenges, including limited technical expertise, outdated production methods that do not align with international standards, and intricate agricultural value chains characterized by numerous stakeholders. Additionally, farmers face risks associated with epidemics, climate change, shifts in consumer preferences, and evolving market standards.
To indirectly uplift farmers' income, you can select brands that adhere to responsible business philosophies: respecting human rights, protecting the environment, and equitably sharing benefits and risks throughout the value chain.
"How old do you have to be to get married?"
"Who do I turn to if my husband is abusing me?"
With the evolution of society, there's a growing demand for legal services. However, poor people, ethnic minorities, women, children, and people with disabilities encounter significant challenges in accessing equal and quality legal assistance in Vietnam. Legal issues can impact livelihoods, create financial burdens, and impede the escape from poverty.
A Human Economy prioritizes expanding legal aid for people, fostering human rights and citizens' access to justice and legal equality. This contribution helps build a state based on the rule of law, fostering a civilized and content society.
"You do it like a girl”
“A woman’s place is in the kitchen"
"Man up!"
Have you ever been called out as such? These seemingly common phrases are, in fact, gender stereotypes that hinder individuals, regardless of gender, from achieving happiness.
The fight for gender equality doesn't aim to diminish men or any genders. Instead, it seeks to eradicate deeply ingrained prejudices in a patriarchal society that impose burdens on all genders. Gender equality is about respecting each person's freedom of choice irrespective of their gender, and these choices should not infringe upon the rights of others.
The basic salary for a worker is 4.92 million VND per month if no overtime is worked.*
This amount must cover essential living expenses such as food, clothing, shelter, and transportation. Additionally, families rely on this income for school fees and hospital bills. In many cases, only one family member works, making the entire household dependent on this 4.92 million VND.
Workers deserve a dignified life—one where they and their families receive a living wage, have access to free and quality healthcare and education, and can enjoy time for rest and visiting family and friends. This living wage should be adjusted according to economic developments.
*Based on a March 2022 survey by the Vietnam General Confederation of Labor.