Vietnam estimates property damage from Typhoon Bualoi at 8 trillion dong

[HANOI] Vietnam’s government said Typhoon Bualoi caused an estimated 8 trillion dong (S$391 million) of property damage this week, saying in a preliminary assessment on Wednesday (Oct 1) that nearly 170,000 houses were damaged or inundated by flooding.

Bualoi made landfall on Monday in northern central Vietnam, bringing huge sea swells, strong winds and heavy rains that have killed at least 29 people and left 22 others missing, according to the disaster management agency report.

The typhoon severely damaged roads, schools, and offices, and caused power grid failures that left tens of thousands of families without electricity, the report said. More than 34,000 hectares of rice and other crops were destroyed, it said.

The report did not mention any major damage to industrial properties.

Vietnam is a regional manufacturing hub, and large factories in or near the typhoon’s path included some owned by Foxconn, Formosa Plastics, Luxshare and Vinfast.

The typhoon triggered floods across Vietnam’s north, and disrupted flights and train services with the capital, Hanoi, where schools were closed and many homes inundated.

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With a long coastline facing the South China Sea, Vietnam is prone to typhoons that are often deadly.

Last year, Typhoon Yagi killed around 300 people and caused damages estimated at US$3.3 billion across northern Vietnam. REUTERS