Investment is important for any countries without exception, including Southeast Asian Countries. As the neighboring countries Indonesia invests in infrastructure and Cambodia invests in fintech, Laos prefers to invest in disaster risk reduction.
According to the report from UN Office for Disaster Risk Reduction, Laos is trying to invest in disaster risk reduction. Correspondingly, the reason is because the government wants to lessen the horrendous impact of future disasters.
Furthermore, Lao People’s Democratic Republic experienced its worst flooding in decades last year. The disaster, in addition, crushed the dam at the Xe Pian Xe Namnoy hydropower project.
Due to the heavy damage, the country is still recovering from it. Following the recovery, the intention to invest in disaster risk reduction was expressed by the government right after the disaster.
“The Party and the Government have recognized and are trying to address the risks of climate change and the effects of natural and man-made disasters that have damaged people’s lives and assets economically, socially and environmentally,” stated Dr. Khampheng Saysompheng, Minister of Labour and Social Welfare and Chairman of the National Disaster Prevention and Control Committee.
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“The development of an Action Plan for Disaster Risk Reduction is a government priority for planning, investment in socio-economic development, implementation of rural development strategies, and poverty reduction,” he added.
By investing in and developing this sector, the government believes that it will significantly lessen the impact of future disasters. Consequentially, this will strengthen other sectors such as investment, economy, business, and so forth in the future.
Laos’ 2018 Flooding and Dam Collapse
The dam collapse happened on July 23, 2018 following heavy rains. The heavy rains caused the worst flooding Laos faced in the decades.
The collapse caused the death of at least 26 people and displaced more than 6.000 families in the Attapeau, Laos. More importantly, it also affected the neighboring country, Cambodia.
Accordingly, villages along the Sekong River in Cambodia fell victims to the rising water caused by the dam collapse. Additionally, the rising water caused numerous houses underwater.
Speaking of its loss, Laos indubitably suffered and is suffering from the economic and others tolls. A huge amount of money was spent for the recovery and rescue mission.
From this disaster, the government learns from it. Therefore, the government is putting all the possible effort and investment in disaster risk reduction.
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