To urgently provide insurance benefits to customers affected by No. 3 typhoon in Vietnam

To urgently provide insurance benefits to customers affected by No. 3 typhoon in Vietnam (Image from the Internet)

On September 27, 2024, the Prime Minister of the Government of Vietnam issued Official Telegram 100/CD-TTg regarding the concentrated directive and rapid implementation of measures to swiftly recover agricultural production post No. 3 typhoon and ensuing floods.

To urgently provide insurance benefits to customers affected by No. 3 typhoon in Vietnam

To promptly mitigate the aftermath of No. 3 typhoon and subsequent floods, restore and develop agricultural, forestry, and fisheries production, ensure the supply of food and essentials, contribute to controlling inflation, and stabilize the lives of the people, the Prime Minister of the Government of Vietnam requires the Ministry of Finance of Vietnam to take the lead and cooperate with relevant ministries, agencies, and localities to ensure the following key tasks are carried out:

- Direct and guide the immediate implementation of financial support policies, tax exemptions, reductions, extensions, land rent, and water surface rent for affected and damaged localities and subjects, especially agricultural production, in accordance with legal regulations. Continually study policies for fee and charge exemptions and reductions for affected subjects.

- Direct insurers to promptly review and disburse insurance benefits to affected customers in compliance. Initially, immediately advance compensation payments to customers as per regulations.

- Promptly consider and implement the pre-financing for localities to apply the agricultural production support policy for the recovery of regions affected by natural disasters and epidemics according to the stipulations of Decree 02/2017/ND-CP dated January 9, 2017, of the Government of Vietnam.

- Lead and cooperate with the Ministry of Agriculture and Rural Development of Vietnam and related agencies to research, review, and promptly submit amendments and supplements to agricultural insurance support policies (issued by the Prime Minister of the Government of Vietnam in Decision 13/2022/QD-TTg dated May 9, 2022), to promptly address practical issues and operational difficulties in policy implementation.

- Closely monitor price fluctuations in the domestic market. Cooperate with relevant ministries and agencies to actively and promptly implement necessary measures to control the prices of input materials and agricultural products, preventing sudden price increases, especially for essential goods and services significantly affecting the general price level and consumer price index (CPI).

Additionally, the Prime Minister also requires ministers, heads of relevant agencies, and chairpersons of provincial and city People's Committees to concentrate on directing, synchronizing, and decisively implementing effective measures to boost production, maintain agricultural growth, and ensure the stability of people's lives. This includes focusing on implementing the 06 key task groups and solutions stipulated in Resolution 143/NQ-CP of 2024 by the Government of Vietnam to urgently address the aftermath of No. 3 typhoon (Yagi), quickly stabilize people's conditions, and strongly recover production and business activities, thereby actively promoting economic growth and effectively controlling inflation.

Relevant ministries, central authorities, and localities are to proactively and actively engage with domestic and international partners and donors to mobilize financial resources, relief goods, and promptly support affected individuals and localities.

Furthermore, farmers, citizens, cooperatives, and enterprises are encouraged to continue promoting self-reliance, resilience, and proactive overcoming of difficulties and challenges in restoring production and business activities. They are also invited to provide feedback and suggestions to the authorities for timely, appropriate, and effective solutions to collectively overcome the consequences of the storm and floods.

More details can be found in Official Telegram 100/CD-TTg dated September 27, 2024.

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