The report was brought out by the Central Institute for Economic Management, the Copenhagen University in Denmark and the World Institute for Development Economic Research.
All research work for the report was financed by the Danish International Development Agency over a period of two years.
Climate change will raise temperatures in Vietnam by 1-2 degrees Celsius, which will slowdown economic growth and greatly affect vulnerable industries like agriculture and infrastructure development.
The infrastructure in the country, especially roads, will deteriorate considerably with climate change, thereby increasing maintenance and repair costs.
Increase in the number of storms at sea will lower the Gross Domestic Product by 00.01-00.08 percent and rising sea levels will also reduce GDP by 0-2.5 percent during the years 2046-2050.
Professor Finn Tarp from Copenhagen University warned that Vietnam must be ready to consider and prepare to relocate prime economic activities to higher grounds.
Relocating itself will be a highly costly task and Vietnam may have to gradually phase out its implementation over the next 10 years.
A.Phuong