Hanoi (VNA) – The World Bank released a report analysing naturaldisasters in Vietnam’s coastal areas and assessing the country’s riskmanagement on October 21.

The “Resilient Shores” report, jointly developed by the Governmentof Vietnam, the World Bank, and the Global Facility for Disaster Reduction andRecovery, said that Vietnam’s coastline is increasingly exposed to naturaldisasters, resulting in significant human and economic losses, but current riskmanagement measures prove inadequate.

“A new resilience development strategy is urgently needed,otherwise, additional economic growth over the next decade in the range ofbillions of dollars could be wiped away by natural shocks,” it stressed.

“If the current trends of rapid economic development inhigh-risk areas continue, disaster losses are bound to increase,” said CarolynTurk, World Bank Country Director for Vietnam. “It’s time for a new approach tobalance the risks and opportunities so that Vietnam’s coastal regions cancontinue to be an engine of growth while being resilient to shocks”.

The ongoing devastating storms and floods that battered thecentral part of Vietnam are the latest evidence of a worrying trend thatnatural risks, which have already been substantial, are intensifying due torapid urbanization, economic development, and climate change.

Tran Quang Hoai, Director General of the Vietnam DisasterManagement Authority under the Ministry of Agriculture and Rural Developmentsaid: “To ensure the sustainable development of Vietnam’s coastal zones, wecannot ignore the challenges of natural shocks and climate change. To secureprosperity, we must invest in resilience”.

The report estimates that 12 million people in coastalprovinces are exposed to the threat of intense flooding and over 35 percent ofsettlements are located on eroding coastlines. Each year, an average of 852million USD – or 0.5 percent of GDP – and 316,000 jobs in key economic sectorsare at risk from riverine and coastal flooding.

Public facilities and infrastructure are also at risk, whichmeans disruption of service delivery at the time when they are most needed.Severe flooding affects directly 26 percent of public hospitals and healthcarecentres and 11 percent of schools in the region. More than one-third ofVietnam’s power grid is located in forested areas, at risk of being damaged bystorm-induced fallen trees, according to the report.

The report presents a concrete action plan in five strategicareas that needs to be rolled out immediately and decisively, including strengtheningdata and decision-making tools by establishing openly accessible naturaldisaster databases, as well as asset management systems for criticalinfrastructure; factoring risks in zoning and spatial planning based on thebest available information, strengthening the resilience of infrastructuresystems and public services by upgrading such assets in the most exposed andunder-protected areas and updating existing safety standards; taking advantageof nature-based solutions by tapping into the protective function and economiccontribution of ecosystems in a systematic manner, and improving disasterpreparedness and response capacity by upgrading the early warning system,strengthening local response capacity, improving social safety nets andimplementing comprehensive risk financing./.