Natural disasters cause annually 1 – 1.5% GDP losses, introduction of national disaster management fund
Description
Along with these economic losses, natural disasters have also caused each year nearly 400 death or missing cases over the last 30 years. This information was released at a ceremony celebrating International Day for Disaster Risk Reduction and ASEAN Day for Disaster Management on 13rd October organized by the National Steering Committee for Natural Disaster Prevention and Control. On this occasion, the National Disaster Management Fund was also introduced. The establishment, management, and use of the Disaster Management Fund are stipulated in Decree No. 78/2021/ND-CP, issued on 1st August 2021.
Sources & further information: “Disasters cause economic losses of 1-1.5 percent of GDP annually” at https://en.vietnamplus.vn, “Thiên tai làm thiệt hại kinh tế khoảng 1-1,5% GDP mỗi năm” at https://nongnghiep.vn, and “Nghị định số 78/2021/NĐ-CP về thành lập và quản lý quỹ phòng, chống thiên tai” at https://thuvienphapluat.vn, accessed on 20 October 2021.