Dams can certainly play a part in reducing flooding and flood damages. I have not been following the flooding in Asia and do not know what kind of rain events occurred and how widely distributed the rainfall occurred. Dams require valleys to be flooded, you have to store the water somewhere. The more storage, the better the dams function as flood control structures. There are many dams in the US where flood control was the primary reason for the construction. Some impound some water all the time and have secondary purposes, while others are dry except following rain events.
In the end it takes the will to build the dam(s). This always means you have to have the funding. In most cases you have people and possibly industries that have to be displaced and some amount of environmental consequences to deal with.