Typhoon Yagi May Inflict $2.5B in Damage Across Vietnam: MARD

Typhoon Yagi, the most destructive in Vietnam’s history, is projected to exceed $2.5 billion in economic damage across Vietnam, according to the Ministry of Agriculture and Rural Development (MARD).

As of September 18, the economic losses caused by the typhoon reached VND50 trillion ($2 billion), as reported by localities, the ministry added.

Deputy Minister of Agriculture and Rural Development Nguyen Hoang Hiep revealed that the economic damage is five times higher than all natural disasters in 2023 and exceeds the combined total from the past three years.

He predicted that Vietnam’s 2024 GDP growth would fall by 0.15% from the expected 6.8%-7%, particularly affecting Haiphong City and provinces of Quang Ninh, Thai Nguyen, and Lao Cai.

Typhoon Yagi also left 292 deaths and 37 missing persons, while extensive flooding affected 20 out of 25 northern provinces, submerging over 70,000 households.

To date, Vietnam has received 200 tons of goods and $13 million in aid from international support.

(VnExpress, Dan Tri, Thanh Nien, Tuoi Tre, Nhan Dan, TBTCVN, VnEconomy)