Typhoon Yagi, which struck northern Vietnam on September 7, has caused widespread destruction estimated at $1.6 billion, significantly impacting the country’s economy. The Ministry of Planning and Investment predicts a potential decrease of 0.15 percentage points in GDP growth for 2024, with the third and fourth quarters expected to see declines of 0.35 and 0.22 percentage points, respectively. The storm has resulted in the deaths of at least 292 people and damaged or destroyed over 230,000 homes, along with flooding nearly 190,000 hectares of agricultural land. Quang Ninh and Hai Phong were among the hardest-hit areas, suffering losses of approximately $972 million and $450 million, respectively. Amidst these challenges, Vietnam aims to maintain a GDP growth target of about 7% for the year, though the situation remains dire due to ongoing recovery efforts and infrastructure damage. The impacts of global warming are cited as a contributing factor to the intensity of such storms, marking Yagi as one of the most powerful in decades.