Vietnam Suffers $303 Million in Damage from Typhoon Bualoi

Typhoon Bualoi has left an estimated property damage toll of 8 trillion dong (approximately US$303 million) in its wake after making landfall in northern central Vietnam this week. The Vietnamese government released a preliminary assessment on October 1, 2023, indicating that nearly 170,000 houses were either damaged or inundated by flooding caused by the storm.

The typhoon struck on Monday, bringing with it severe sea swells, strong winds, and heavy rainfall. According to reports from the disaster management agency, at least 29 people have lost their lives, with another 22 individuals reported missing. The storm’s impact extended beyond residential areas, causing significant damage to infrastructure including roads, schools, and government offices. The power grid suffered failures, leaving tens of thousands of families without electricity.

In addition to the destruction of homes, more than 34,000 hectares of rice and other crops were destroyed. The assessment did not indicate any major damage to industrial properties, which is notable given Vietnam’s status as a regional manufacturing hub. Factories operated by major companies such as Foxconn, Formosa Plastics, Luxshare, and Vinfast are located in or near the affected areas.

The typhoon has also caused widespread flooding across northern Vietnam, leading to disruptions in both air and rail travel, particularly in the capital, Hanoi. Schools were closed in response to the dangerous conditions, and many homes in the city faced inundation.

Vietnam’s long coastline along the South China Sea makes it particularly vulnerable to typhoons, which can have devastating effects. Last year, Typhoon Yagi caused around 300 fatalities and incurred damages estimated at US$3.3 billion across northern Vietnam.

As recovery efforts begin, the full extent of Typhoon Bualoi’s impact continues to unfold, and authorities are working diligently to assess and address the needs of those affected. The situation underscores the ongoing challenges posed by severe weather events in the region.