The Intention to Participate in Voluntary Social Insurance of Informal Sector Workers: the Case in Mekong Delta, Vietnam

Abstract

Purpose: The objective of this study is to develop the participation of informal sector workers in voluntary social insurance to ensure the Social Security policy of the Government of Vietnam. Theoretical Framework: Based on the results compiled from expert as: Kotler, 2003; Schiffman and Kanuk, 2007; Ming-Chi Lee, 2009; Holmgren et al., 2016 and Krajaechun and Praditbatuga, 2019. The model was preliminarily designed by the author through eight prefix variables including: Confidence in Benefits, Evaluation of Social Responses, Perception of risks, Beliefs, Motivation, Attitude towards Voluntary social insurance, Subjective norms, and Intention to participate in Voluntary social insurance. Methodology: This study employs primary data from a survey of 370 people working in informal workers in 04 province of the Mekong Delta region of Vietnam: Kien Giang Province, Tra Vinh Province, Hau Giang Province and Soc Trang Province. The Authors using Partial Least Squares-Structural Equation Modeling (PLS-SEM) and Bootstrap analysis in the SEM reliability test employed for data analysis and interpretation. Findings: Research results show that two factors that affect the intention to participate in voluntary social insurance of workers in the informal sector: Attitude towards social insurance and subjective norms. Solutions: From the research results, the authors have proposed solutions to further improve the participation in voluntary social insurance of workers in the informal sector in the Mekong Delta, Vietnam in future.