Vietnam needs financial and insurance strategies to mitigate disaster impacts
Natural disasters cause annual losses to Vietnam of up to 1-1.5% of GDP. Therefore, effective financial and insurance strategies have been identified as crucial tools for mitigating these impacts and ensuring swift recovery and reconstruction after disasters.
This was the main focus at the workshop titled “Disaster Risk Finance and Insurance: International Experiences and Recommendations for Vietnam,” held on November 14 by the Ministry of Finance’s National Institute for Finance in collaboration with the United Nations Development Programme (UNDP).
Delegates at the workshop shared experiences from countries such as Japan, the Philippines, Colombia, and the Caribbean region, emphasizing the importance of robust legal frameworks for disaster risk finance and insurance.
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