Like Elon Musk and governments around the world, Vietnam wants more babies, and it’s offering women cash to set their careers aside to have multiple.
The government is pledging VND 1.8 trillion ($68 million) a year in cash bonuses to help reverse its declining fertility rate. But there’s a huge catch: You have to already have one specifically living biological child at the time of the birth and be under 35 years old to qualify.
Under the country’s new Population Law, women who have their second child before turning 35 will receive a minimum of VND 2 million (about $75.86) starting this month. And while millions may sound like a lot, in context it’s about the same price as a fine-dining meal for two.
Men whose wives deliver a second baby qualify too, as do families from ethnic minority groups and those living in areas with below-replacement fertility rates.
But it’s unclear whether there is the same age stipulation for men. It’s also unclear if women get the same perks for baby no.3 or 4. The Vietnamese government did not respond to Fortune’s request for comment.
Other incentives launched under the new policy include expanded healthcare support. Now, mothers are entitled to seven months of maternity leave, up from six months (again, specifically for their second child), while paternity leave has doubled to 10 working days.
The country, which has around 102 million people, has been watching its fertility rate freefall. In 2024, Vietnam’s birthrate fell to a record low of 1.91 children per woman, which is below replacement level, prompting the country to scrap its two-child policy.
Study shows how much having a child costs women over their careers—and it’s over $500K
If you haven’t heard, having children is expensive. There’s childcare to consider, as well as the eye-watering price of equipment for your new bundle of joy. You then have to factor in the time taken off work to have the baby and the impact that has on future earnings potential.
One study puts a number on exactly how big that dent is: $17,000 every year after becoming a mother.
The analysis of the Census Bureau’s Current Population Survey (CPS) revealed that full-time working mothers with children under 18 earn around 31% less than their male counterparts. This discrepancy translates to $1,400 less in mothers’ pockets each month; $17,000 less per year; and around $500,000 less over the course of a 30-year career. And that’s a conservative figure.
It’s one of many reasons why so many women today are delaying having children until later and having fewer children. Now, governments around the world, as well as business owners such as Elon Musk, are trying to intervene.
In France, 29-year-old women are being sent letters reminding them not to leave it “too late” before starting a family.
One South Korean construction company, Booyoung Group, is handing out 100 million Korean won (around $66,000) each time an employee has a baby to help reverse the country’s declining birth rate—and it’s even backdating payments to those who started a family before the policy came into place.
Musk, the world’s richest person, has donated millions of dollars to fund research on fertility and has repeatedly warned that “civilization is going to crumble” if women don’t have more children. Yet the father of 14 has also actively pushed against policies that enable parents to juggle their work and childcare responsibilities, such as working from home.
