As of September 17, typhoon Yagi has left 329 dead and missing, and 1,929 injuries. The total damage caused by the powerful storm is estimated at more than VND50 trillion (US$2 billion) across the country. This year’s GDP growth is forecast to decrease by 0.15 percent compared to the growth scenario of 6.8 – 7 percent. The economic growth rate of localities, including Hai Phong, Quang Ninh, Thai Nguyen, and Lao Cai may drop over 0.5 percent compared to the pre-typhoon forecast.
To quickly settle the typhoon’s aftermaths, stabilize people’s lives, and boost production and business recovery, the Government has issued a resolution outlining focal tasks and solutions, including using state budget reserves to repair public infrastructures, schools, hospitals, irrigation works, and local medical facilities as soon as possible.
Regarding schools and healthcare facilities that were heavily damaged and are no longer usable, the localities will build temporary classes and medical stations in September, providing flexibility and affordability in a short time. The Ministry of Education and Training and provinces will implement tuition exemption and reduction policy for students affected by typhoon Yagi in the 2024-2025 academic calendar.
Regarding the key tasks and solutions to support production facilities, businesses, cooperatives, and enterprises to quickly recover production and supply chains, the Government required the implementation of exemption, reduction, and extension of tax, fees, land and water surface rental fees for those affected by storms in accordance with laws.
The State Bank is responsible for classifying assets, determining the rate of provision for risk reserves and the use of risk reserves when risks occur to support clients who are facing challenges and severe losses due to the typhoon; directing credit institutions to offer support programs and low-interest credit programs to customers to restore production and business activities after the storm.
