Natural disasters cost Vietnam US$1.3 billion a year

VOV.VN - Natural disasters which have claimed the lives of more than 300 people are draining the economy of nearly US$1.3 billion every year. This figure is equal to 1-1.5% of GDP, according to Deputy Prime Minister Trinh Dinh Dung.

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At a conference in Hanoi today (October 13), Mr. Dung declared that Vietnam is one of the countries most heavily affected by natural disasters which are being exacerbated by climate change. The historic floods, which have inundated central and northern provinces in the past week have seriously impacted upon the livelihoods of local people.

Millions of Vietnamese are struggling to adapt to the realities of climate change. In its preparations, the country has invested heavily in disaster prevention, improving the infrastructure and initiating projects aimed at alleviating the stresses such disasters put upon local people’s living conditions and production capabilities, said Mr Dung.

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On the International Day for Disaster Reduction, the Deputy PM called on the international community to support developing countries, including Vietnam, and particularly poor countries impacted by natural disasters in improving the forecasting of such events, and developing a better warning system and disaster response capacity across all sectors.

Participants at the conference discussed measures to promote policy dialogue on natural disaster risk management, including institutional capacity, financial solutions and water management.

Other issues covered at the conference were Vietnam’s susceptibility to El Nino, impact on agricultural production, food security, health and socio-economics, natural disaster responses, and landslide risk reduction.

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