Government sets major tasks to promote production and business recovery after typhoon

The Government has issued Resolution No. 143/NQ-CP on the key tasks and solutions to urgently deal with the consequences of Typhoon Yagi and subsequent floods and landslides in order to stabilize people’s life, promote production and business recovery, boost economic growth, and control inflation.

Under the Resolution, six groups of major tasks and solutions have been identified, including those on protecting people’s lives, safety, and health; supporting the recovery of daily and social activities to stabilize people’s life; along with supporting production establishments, business households, cooperatives, and enterprises to quickly resume production, supply and labor chains while recovering and bolstering production, business, and economic growth.

Others are on the preparedness against natural disasters; mechanisms, policies, and solutions for reducing and simplifying administrative procedures to implement support policies; and inflation control and economic growth promotion.

In order to support enterprises to quickly resume production, supply and labor chains, the Government asked the Ministry of Finance to urgently implement policies for waiving, reducing and extending tax and fees for those affected by storms, floods, or landslides in line with regulations.

The government requested the State Bank of Vietnam to direct credit institutions to proactively build support plans, consider waiving or reducing interest rates for affected customers, develop new credit programs with appropriate interest rates and continue providing credits to customers to help restore production and business in line with regulations.

Typhoon Yagi, the third to appear in the East Sea this year, is the most powerful there in 30 years and in the Vietnamese mainland in 70 years. It caused a heavy toll on all the 26 localities across the northern region after hitting the mainland on September 7.

As of September 17, 329 people listed died or missing while about 1,930 others were injured. Some 234,700 houses, 1,500 schools, and many infrastructure facilities were pulled down or damaged. Meanwhile, 3,722 aquaculture cages were ruined, nearly 3 million livestock and poultry killed, and almost 310,000 trees uprooted, preliminary statistics show.

Property losses are estimated at more than VND50 trillion (nearly $2 billion), which is forecast to slow this year’s GDP growth by around 0.15%.