Effects of climate change on Vietnam's economy

This article presents an analysis of the role of climate change in the economic well-being of the Socialist Republic of Vietnam. According to international organizations, the increase in average annual temperatures in Vietnam is observed more intensively than in other Southeast Asian countries. This process occurs due to the vulnerable geographical location of the country which creates significant risks both for the economic sector and for the life of the population. It is determined that Vietnam is exposed to such climatic risks as rising water levels and droughts which negatively affect the agricultural sector and private property. The relationship between the number of dangerous hydro-meteorological events and internal migration is highlighted. Despite the increasing dynamics of climate risks, the level of Vietnam’s GDP growth does not depend much on these indicators. This phenomenon is explained by the high level of fossil fuel extraction which increases