Typhoon Yagi, Asia's most powerful storm this year, cost Vietnam roughly $1.6 billion and may cut into the country's growth rate, according to preliminary estimates from the investment ministry. Vietnam's economic growth in 2024 may slow by 0.

Manufacturers say that while many factories acted early to minimize damage, roughly 10 percent of buildings in Haiphong are deeply damaged.

At least 74 people have died and scores more are still missing in Myanmar following heavy flooding and landslides caused by Typhoon Yagi, state media reported on Sunday.