Disasters may cost Vietnam 1.5 pct of GDP annually
Natural disasters could shave 1.5 percent off annual GDP or even more if no appropriate measures are taken in response to climate change, according to the Ministry of Natural Resources and Environment.
Many houses in central Thua Thien-Hue province submerged (Source: VNA)
Hanoi (VNA) - Natural disasters could shave 1.5 percent off annualGDP or even more if no appropriate measures are taken in response to climatechange, according to the Ministry of Natural Resources and Environment.
The average temperature in Vietnam is predictedto increase 2-3 degrees Celsius by 2100, while sea levels will rise from 78-100cm.
Such a rise would submerge over 10 percent ofthe Red River Delta and Quang Ninh province in the north, 2.5 percent ofcentral coastal localities, and over 20 percent of HCM City.
It would directly affect 9 percent of the populationin the Red River Delta and Quang Ninh, nearly 9 percent in central coastallocalities, and about 7 percent in HCM City.
Of particular note, some 35 percent of the populationin the Mekong Delta would be affected and 40.5 percent of its rice output lost.
The agricultural sector, the natural ecosystem,the poor, the elderly, women, and ethnic minority groups are all vulnerable.
The ministry emphasised the need to conduct researchon and apply technical solutions and new technologies in designing andconstruction works.
Priority should be given to investing in earlywarning and monitoring systems in urban areas and concentrated residentialareas, and raising public awareness about climate change./.
Predictions on the intensity and impacts of environmental issues on various socio-economic aspects must be highlighted in the draft documents to be submitted to the 13th National Party Congress, said deputy head of the Vietnam Environment Administration (VEA) Nguyen Hung Thinh.
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Mariam Sherman, World Bank Country Director for Vietnam, Laos, and Cambodia, said the World Bank remains committed to working with the Vietnamese government to develop the next phase of climate resilience and transformation for the Mekong Delta.
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Vietnam's economic losses from natural disasters are estimated to account for 1 to 1.5% of GDP annually - a steep price that will continue to rise unless the country takes strong action.
Wutip, the first storm in the East Sea so far this year, has wreaked havoc across central Vietnam, claiming lives, displacing residents, and causing widespread damage to houses, crops, and infrastructure, the Department of Dyke Management and Disaster Prevention and Control reported as of 6:30 pm on June 13.
The tremor occurred at 7:39:46 am (Hanoi time), with the epicentre located at latitude 14.924°N and longitude 108.236°E, at a depth of approximately 8.1 kilometres. The natural disaster risk level was classified as 0 – the lowest on the scale.
Addressing a session on “Accelerating Financing for Resilience: Tailored Solutions for Disaster Risk Reduction,” Deputy Minister Hiep emphasised Vietnam's proposal in building sustainable financing in response to natural disasters, which aligns with the Sendai Framework for Disaster Risk Reduction's goals.
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