(VOVWORLD) - The Ministry of Planning and Investment estimates that damages caused by typhoon Yagi could reduce Vietnam's GDP by 0.15% this year. A week after the devastating typhoon, recovery efforts are being accelerated to quickly restore production to meet the target of 7% growth in 2024.
 90% of businesses in Hai Phong have resumed operation after typhoon Yagi. (Photo: VOV) |
Localities resume production
Hai Phong has restored electricity, water, and telecommunications to 14 industrial parks in the city. All enterprises have basically returned to normal production.
The OKI Vietnam Company in Trang Due Industrial Park is providing workers daily meals and sufficient rest.
Pan Xing Hua, General Director of the Global Material Handling Company in DEEP C Hai Phong Industrial Park, says the company has worked to address the damage inflicted by Yagi and quickly resume production.
“Last Monday, all the contractors came to evaluate the damage and create a recovery roadmap. Power was also restored the same day. We checked all devices, air-dried the machines, and resumed operation,” said Pan.
Le Trung Kien, Head of the Management Board of the Hai Phong Economic Zone, said that Hai Phong leaders are providing all possible support to businesses to resume production. “We will continue to help them stabilize their production as quickly as possible and ensure a smooth supply chain.”
In Quang Ninh province, the Ha Long city leaders, businesses, and residents have worked together to quickly restore tourism activities. The authorities have cleared fallen trees, drained flooded roads, and reinforced damaged structures. Tourist attractions, wharves, and beaches have been cleaned up and were reopened to tourists last Friday.
Tran Van Hong, President of the Association of Ha Long Cruise Ships, said that cruise ships are operating again while damaged ships are being repaired.
 Prime Minister Pham Minh Chinh chairs a teleconference with localities affected by typhoon Yagi to discuss recovery solutions, September 15, 2024. (photo: VGP/Nhat Bac) |
Full-fledge efforts
Vietnam Electricity said it has reconnected more than 1,500 medium-voltage lines that were damaged by the typhoon. The repair work is expected to be completed in the next few days. 1,000 workers of Quang Ninh Electricity, together with 1,500 employees of other sectors and the army, have participated in restoring the power grid.
“We are strongly determined to restore the power grid in Quang Ninh soon. We hope to supply sufficient power to the entire province by Friday,” said Vu Anh Phuong, Deputy General Director of the Northern Power Corporation.
The State Bank of Vietnam has asked commercial banks to temporarily defer or reduce interest rates for customers affected by the storm. Banks are urged to provide new loans to businesses and individuals to restore production.
Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry, praised the timely direction of the State Bank of Vietnam. “It should maintain this policy and provide new credit for people. If the State and the people work together, we can get through this difficult time and restore our growth momentum.”
26 northern Vietnamese provinces and cities were strongly affected by typhoon Yagi, the worst East Sea typhoon in 30 years.