Finding solutions to promote gender equality and sustainable growth through the perspective of the care economy

Following the success of the program held in Hanoi, on March 20 in Ho Chi Minh City, the Vietnam Women Entrepreneurs Council (VWEC) under the Vietnam Federation of Commerce and Industry (VCCI) in collaboration with the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women), with the support of the Inter-Pacific Import-Export Company Limited (IPPG) and Vietnam Airlines Corporation (Vietnam Airlines) organized the Workshop "Investing in the Caring Economy: Solutions to Promote Gender Equality and Sustainable Growth".

The workshop attracted the participation of nearly 130 delegates representing Consulates of several countries in Ho Chi Minh City, business associations, women entrepreneurs associations, businesses, and women entrepreneurs in the Southern region.

Speaking at the opening of the workshop, Mr. Vo Tan Thanh, Vice President of VCCI emphasized: "The unbalanced distribution of care responsibilities between men and women is creating major barriers to women's participation and career development. Investing in the care economy not only benefits women but is also an important economic strategy to promote growth and sustainable development".

At the workshop, delegates listened to experts exchange information on the care economy, the importance of the care economy; businesses that practice good family-friendly care policies, businesses that provide quality care services, comply with labor laws and gender equality and are accessible to customers; towards building a gender-responsive care economy in Vietnam.

At the workshop, experts pointed out that: Caring for children, the elderly, the sick, the vulnerable, and family members is a common right and responsibility of everyone, and is essential for the functioning and development of families, societies, and economies. However, all over the world, women shoulder a greater burden of unpaid care work than men.

In particular, in the Asia-Pacific region, women do on average 2.5 times more unpaid care work than men. Vietnamese women spend nearly twice as much time on housework as men.

Caregiving responsibilities are one of the main reasons for women’s limited participation in the labour market. Lack of care services forces women to take up precarious, unstable jobs or even to quit their jobs. In addition, paid care work is often done by women, most of whom are migrants, with poor working conditions, low wages and limited social and labour protection. If women’s contribution to all forms of care is considered, women contribute US$11 trillion to the global economy.

Yet women and girls continue to suffer from undervalued care work and underinvestment in care services, setting us back in our progress towards gender equality.

The care economy refers to the economic sector concerned with the provision of care services (paid and unpaid) to people including children, women, the elderly, the sick, the disabled... The care economy plays an important role in maintaining the functioning of society.

Minh Trang