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Policy aimed at meeting Vietnamese fishermen’s aspirations November 02,2020   |  Source: Vietnam Plus

Under the decree, ship-owners building vessels made from steel or new materials and with a total engine capacity of 380 CV or higher can borrow a certain sum from commercial banks, which much not exceed 95% of total costs. With a preferential interest rate of 5% per annum, ship-owners are required to pay just 1% while the State budget subsidises the remaining 4%.

According to fishermen, the new policy has helped them realise their dream of having a large fleet capable of heading offshore. It gives them motivation in marine economic development, and at the same time contributes to protecting Vietnam’s sovereignty over seas and islands. In recent years, the decree has assisted the restructuring process in the fisheries industry, preserving resources and improving livelihoods in coastal regions. One of the Party and State’s main targets is to promote the marine economy and become wealthy from the sea. The shipbuilding industry is given priority in this regard, serving economic development, ensuring the lives of fishermen, and firmly protecting territorial sovereignty.

Under these policies, the Government gives the highest priority to the construction of new steel-hulled logistics vessels, specializing in the provision of necessities, water, oil, and marine product

Theme(s): Landing Centres, Others, Freshwater ecosystems and threats, Post Harvest Technology and Trade, Fishing Craft, Gear and Fishing Methods, Fisheries Resources, Communities and Organisations, Fisheries Development and Aquaculture, Coastal Ecosystems and Threats.

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