Natural disasters cause economic losses of 1-1.5% of GDP per year

Natural disasters cause economic losses of 1-1.5% of GDP per year

On October 13^th, the National Steering Committee for Natural Disaster Prevention and Control in collaboration with the Association of Southeast Asian Nations (ASEAN) organized an event in Hanoi in response to the International Day for Disaster Risk Reduction and ASEAN Day for Disaster Management.

Deputy Prime Minister Le Van Thanh, Head of the National Steering Committee for Natural Disaster Prevention and Control, said that with the theme "Cooperate to overcome challenges together", the event reaffirmed Vietnam's determination in uniting with countries, UN and ASEAN agencies, and international organizations to promote global awareness on disaster risk reduction, improve disaster management capacity, respond more effectively to natural disasters, and protect the life and property of people and society in the context of Covid-19.

According to the Deputy Prime Minister, Vietnam is one of the countries most affected by climate change. The country often suffers from many types of natural disasters, especially storms, floods, landslides, droughts, and salt invasions. Natural disasters make 400 people lose their lives or go missing and cause economic losses of 1-1.5% of GDP on average each year. This situation has continued for more than 30 years.

The Deputy Prime Minister there affirmed that the Government of Vietnam always considers natural disaster prevention as the whole political system’s top mission, always in constant actions in order to protect the life and property of the people.

The Deputy Prime Minister said that Vietnam highly appreciates and wishes that countries, organizations and international friends continue to accompany and work in unison to support the Government, the Steering Committee and Vietnamese people to early gain access to advanced science and technology, support in terms of resources to promptly respond and quickly overcome the disaster aftermath.

Introducing the Central Fund for Natural Disaster Prevention and Control

During the historic flood in the Central region in October 2020, after only a short amount of time, the amount of support from domestic and foreign international organizations for people in the Central region has reached more than USD 25 million.

In recognition of the precious aid and support, the Prime Minister decided to award the Certificate of Merit to the Japan International Cooperation Agency (JICA), the United Nations Resident Agency in Vietnam, the United States Agency for International Development (USAID), the Catholic Relief Services (CRS), and the Asian Development Bank (ADB).

Within the framework of the event there was also a ceremony to award the Third-class Medal of Independence to the collective of the Vietnam Disaster Management Authority (MARD) and the First-class Medal of Labor to Mr. Tran Quang Hoai, Deputy Head of the National Steering Committee for Natural Disaster Prevention and Control - Director of the Vietnam Disaster Management Authority.

The Central Fund for Natural Disaster Prevention and Control (established under Decree No. 78/2021/ND-CP) was also officially launched on this occasion with the first contribution and support from organizations, businesses and philanthropists inside and outside the country.

Operating on the principle of "Not for profit, but for right purposes; in accordance with the law, in a timely manner; effective, open and transparent", the Fund plays the role of an important bridge to promptly support people in disaster areas who are facing danger and overcome the lack of transparency of the recent spontaneous volunteer activities.

The mobilized budget will focus on emergency response, relief, post-disaster recovery, prioritizing difficult areas and often suffering severe damage caused by natural disasters.