Prime Minister Pham Minh Chinh visits and encourages the people of Yen Bai province after Storm No. 3. Photo: VGP
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To promptly overcome the consequences of Storm No. 3 and the subsequent floods, restore and develop production, contribute to curbing inflation, and stabilize people’s lives, the Prime Minister requested that ministers and local leaders focus on directing and implementing synchronous and effective solutions to boost production and maintain growth.
For the chairpersons of the provinces and centrally-run cities, especially those affected and damaged by the storm, floods, and landslides, the Prime Minister directed them to promptly review and accurately assess the damage to agricultural production. They should proactively and actively mobilize the maximum resources of the locality to immediately implement support policies for affected households.
In case the local budget does not have enough resources for support, the Provincial People’s Committee shall send a written request to the Ministry of Finance for handling and advancing funds to the locality for the restoration of production in areas affected by natural disasters and epidemics.
The Prime Minister suggested guiding and supporting people to recover production, especially in the fields of crop cultivation, fisheries, and animal husbandry, and providing plant and animal varieties in the affected areas to promote production and business and ensure stable lives for the people.
Monitoring the supply and demand of essential agricultural products and input material prices for agricultural production in the region to proactively devise solutions to ensure supply was also emphasized by the Prime Minister.
He also stressed the importance of controlling prices and preventing speculation, illegal profits, manipulation, and sudden or unreasonable price increases that could affect people’s lives.
The Ministry of Finance was assigned to direct and guide the immediate implementation of financial support policies, including exemptions, reductions, and extensions of tax and land and water surface rental payments for affected localities and objects. They should also continue to research and propose policies on fee and charge reductions for affected subjects.
The Prime Minister requested the State Bank to instruct credit institutions and commercial banks to proactively calculate support plans, restructure debt repayment periods, maintain debt groups, actively consider exempting and reducing interest rates for affected borrowers, and develop new credit programs with suitable preferential interest rates.
The Prime Minister also noted that farmers, households, cooperatives, and businesses should continue to promote self-reliance, self-motivation, and creativity in overcoming difficulties and restoring production and business activities. They should also provide feedback and suggestions to the authorities to devise timely, appropriate, and effective solutions to overcome the consequences of the storm and floods.
The Devastation of Bac Ha District: A Tale of Floods and Landslides
The torrential rain and flooding caused by Storm No. 3 in Bac Ha District, Lao Cai Province, have resulted in devastating losses. Twenty-five people have tragically lost their lives, with nine still missing. The storm has wreaked havoc, leaving 719 homes collapsed or buried, and displacing 1,339 families comprising 5,454 individuals.
Governor of the State Bank: Banks Proactively Reschedule Loans and Provide New Credit to Expedite Post-Storm Production Recovery
On September 20, the State Bank of Vietnam (SBV) held a conference to discuss and implement credit solutions and banking support for businesses and people affected by the third storm. Governor Nguyen Thi Hong chaired the conference.
The Cold Front Brings Heavy Rain: Stay Alert for Flash Floods and Landslides in Northern Mountainous Regions
As of September 23, 2024, at 7 a.m., the reported damage inflicted by Typhoon No. 4 was significant. The Vietnam Dyke Management and Flood Control Department reported three fatalities in Nghe An province, where flash floods swept away residents, and their bodies have now been recovered. The storm also left 261 homes damaged across central provinces, with the highest number in Thanh Hoa (113), followed by Nghe An (93), Ha Tinh (26), Thua Thien Hue (12), and Quang Nam (17).
“Helping Hands: Vietnam Economic Journal and Sponsors Support Flood-Ravaged Yen Bai Communities”
In an effort to extend a helping hand to those affected by the devastating floods and Yagi storm, the Vietnam Economic Magazine/VnEcononomy team personally handed out relief packages to the people of Tan Linh commune, Mai Son village, and Tan Phuong commune (Luc Yen district) in Yen Bai province.
