Government extends helping hand to fishermen
  • | vietnamnet, | May 29, 2014 08:22 AM
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The Ministry of Agriculture and Rural Development has submitted new draft policies which will support fishermen to help continue their expeditions.


 Fishing boats in central Quang Ngai Provine.

The draft policies were created in just 40 days. Steel ship owners will now be able to borrow capital of up to 90% the value of their ship for ten years. The maximum loan for wooden ship owners is 70% the value of their boat for a seven year period. Interest rates will be set as low as 3% per year.

Owners of offshore fishing ships will be able to borrow VND200 million (USD9,500), and VND500 million for their logistical vessels. Actual interest rates will be determined by the governor of the State Bank of Vietnam. Fishermen are also to receive support of 70% of their insurance fees for ships and 100% insurance for crew members.

Vietnam has about 117,000 fishing vessels. 3,750 fishing groups were created, with over 145,000 members who have helped to protect Vietnam's sovereignty.

The draft policies proposed would also help raise compensations for missing or dead fishermen by 25%, as well as provide 15kg of rice for each of their dependents for three months. Vessels that volunteer to help in rescuing missions will be receive the cost of their fuel.

In addition, the draft proposed more investment in ports and an exemption of tuition fees for students at departments of exploration of marine resources.

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