HCM City has hundreds of flooded sites caused by flood tides and rains. Total losses caused by floods are estimated at over 14 trillion dong (nearly $780 million) a year.
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Floods cause great losses to the city, directly and indirectly, according to a research work from the Institute for Irrigation and Environment.
The research, based on data collected over the last 12 years by the HCM City Department of Agriculture and Rural Development, reveals that floods caused direct losses worth 15 million dong per hectare and indirect losses of 10 million dong per hectare annually. The loss for agriculture is 3 million dong per hectare and another three million dong for construction work per a hectare. The yearly total losses are estimated at around 6.2 trillion dong.
Researchers also revealed that, if the city did not flood, its economic growth rate will be around 4.3 percent higher each year. They calculated that flood-related losses in economic growth opportunities to be over 8 trillion dong, based on the city’s GDP in 2009.
The total loss due to flooding is over 14.4 trillion dong. Researchers admit that this is only an estimate, but it shows how great the losses are, not counting those from disease, fatalities, environmental pollution and quality of life reductions.
PV
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