Solutions to improve the efficiency of investment activities to increase the growth of Vietnam Social Security Fund in the coming time

+ Simplify administrative procedures related to social insurance fund investment activities.

+ Priority is given to Vietnam Social Security to invest in areas and projects where capital is safe, risks are low and bring high efficiency to society.

3.2. Develop a compatible strategy for each type of investment capital of the Social Insurance Fund.

- Top priority is given to bonds with high safety such as: Government bonds, bonds of financial institutions with strong economic potential.

- Develop risk management strategies for investment bonds

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+ Do not sell bonds before maturity but use newly collected money from contributors to pay.

+ Macroeconomic analysis to forecast interest rate trends: economic analysis includes GDP, inflation, state budget deficit, market interest rates...; monetary analysis: supply and demand for money.

- Select a bond investment portfolio to create stable cash flow for social insurance.

For the Social Security Agency, a stable cash flow is needed to pay annual benefits. Social Security can use a solution that combines many bonds with different interest rates and terms to achieve this purpose.

3.3. Build an optimal investment portfolio with maximum return and minimize risk by flexibly applying proven investment portfolio selection models in other countries and successfully applying them in the specific conditions of our country.

VI. CONDITIONS FOR IMPROVING THE EFFICIENCY OF INVESTMENT IN SOCIAL INSURANCE FUND

1. On the State side

- The State needs to study and develop regimes so that the contribution levels of the parties implementing social insurance and the benefits for each type of investment enjoy social insurance regimes; types of social insurance should be applied in a way that is suitable to the characteristics and conditions of each type of labor as well as suitable to the socio-economic development of the country.

- Currently, the Social Insurance Law has come into effect, but there are still few documents providing detailed guidance on the law. Meanwhile, voluntary social insurance types are about to be implemented, but people still do not really understand it, so the State should create favorable conditions to support.

Vietnam Social Security promotes these issues well. On the other hand, the State also clearly stipulates the rights, responsibilities and obligations of the parties participating in and enjoying social insurance regimes as well as the rights and responsibilities of Vietnam Social Security agencies in implementing social insurance activities. This helps Vietnam Social Security implement measures to strengthen strict management of social insurance fund revenue and expenditure activities and investment activities of the fund's idle capital.

- Quickly complete the financial management regulations for the operation of the Vietnam Social Security system, in which it is necessary to clearly define the responsibility of the State budget to contribute and support the Social Security Fund as well as the State's protective role for investment activities to grow the fund.

- The State urgently needs to have policies to develop the stock market, the currency market..., especially the bond market, to create a favorable environment for investment activities to grow the Social Insurance Fund.

- It is necessary to invest in building infrastructure for the social insurance sector to continue to consolidate and gradually modernize the entire Vietnamese social insurance system, focusing on applying information technology to information and financial management.

- Improve the efficiency of macroeconomic management. In the socio-economic development strategy and plan, the Government also needs to announce the investment plan for the development of industries, regions, and economic sectors that give priority to the Vietnam Social Security to be able to build its own fund investment plan.

2. On the side of Vietnam Social Security

- Continue to improve the management level of officers directly involved in investment work, train a team of officers capable of appraising financial investment projects so that in the future Vietnam Social Security can invest in large production and business projects.

- Have a satisfactory treatment regime for the staff working in financial investment. Only then will these staff truly have the conditions to develop their inherent abilities.

- Increase investment in development and modernization of facilities serving the work of the entire Vietnam Social Security system, creating infrastructure for the application of advanced achievements of information technology in social security fund management.

- Strictly comply with regulations on financial management of the Social Insurance Fund; at the same time, actively and proactively cooperate with agencies, enterprises, and financial and credit organizations to seek assistance and favorable investment opportunities.

- Vietnam Social Security needs to continuously expand international cooperation activities, seek international assistance in investing in equipment and facilities for the social security sector as well as learn from international experience in investing in social security funds.

CONCLUDE

With the current rapid development trend of the market, in order to preserve and grow the Social Insurance Fund, to create a stable, solid and effective Social Insurance Fund,

In order to fulfill the task of paying social insurance benefits to employees and at the same time contributing to the development of the country's economy, the investment activities of social insurance funds in our country currently need to be studied and paid attention to by the State and relevant Departments and Branches.

Last year, at the 8th APEC conference, the roadmap for free trade and investment was approved; on November 7, 2006, Vietnam became an official member of the WTO. In the trend of economic integration, Vietnam Social Security plays an increasingly important role in the Vietnamese social security system. The investment efficiency of the Social Security Fund plays a significant role in creating financial potential for the fund, promoting the rapid development of the country's economy, improving people's lives, and contributing to creating a new face for the country in the integration process.

When analyzing the current status of Vietnam Social Security Fund investment activities, I have realized some reasons affecting the effectiveness of Vietnam Social Security Fund investment activities, and from that research, I have included in my thesis some short-term and long-term solutions for this activity; if implemented, it will be possible to make Vietnam Social Security Fund develop steadily in the future.

Due to limited time and limited level, the topic is inevitably flawed, so I hope to receive comments from teachers, teachers, and seniors in Vietnam Social Security to help me complete this topic better.

REFERENCES

1. Insurance Textbook - Statistical Publishing House 2004/ Editor-in-Chief ASSETS. Nguyen Van Dinh - National Economics University

2. Vietnam Social Security (1998 - 2005) Summary report of Vietnam Social Security's activities over the years

3. Vietnam Social Security – Summary report of Vietnam Social Security activities in 2005 and tasks in 2006

4. System of legal documents on Vietnam Social Insurance - Finance Publishing House (January 2000)

5. Vietnam Social Insurance Magazine 2003, 2005, 2006, 2007.

6. “Contributing to the innovation and improvement of social insurance policies in our country today” – National Political Publishing House/Assoc. Prof. - Associate Professor Do Minh Cuong, Associate Professor Mac Van Tien (1994).

7. Social Insurance Law June 2006

8. Some websites on the internet