Support 35% of the value of large ships for fishermen to stay at sea

On February 2, 2018, the Government issued Decree No. 17/2018/ND-CP amending and supplementing a number of articles of Decree 67/2014 on a number of policies for fisheries development.

Nghe An fishermen catch seafood with high economic value thanks to investing in building large boats with large engines. Photo: Xuan Hoang

According to Decree 17/CP, the subjects receiving support are ship owners who build new and own offshore fishing vessels or offshore fishing logistics service vessels with a total main engine capacity of 800 CV or more; newly built ships replacing trawlers with a capacity of 90 CV or more that are converted to encouraged occupations such as: purse seine, gillnet (except tuna gillnet), fishing, casting, and logistics services.

Support level of Decree 17/CP: For fishing vessels and seafood logistics service vessels newly built with steel hulls and a total main engine capacity from 800CV to under 1,000CV, ship owners are supported with 35% of the investment value for new construction but not exceeding 6.7 billion VND/vessel; For fishing vessels with a total main engine capacity from 1,000CV or more, ship owners are supported with 35% of the investment value for new construction but not exceeding 8 billion VND/vessel.

For newly built fishing vessels and seafood logistics service vessels with composite hulls and a capacity of 800CV or more (including new equipment), ship owners are supported with 35% of the investment value for new construction, but not exceeding 6.7 billion VND/vessel.

Nghe An fishermen can confidently go out to sea for long periods on large-capacity ships. Photo: Xuan Hoang

Over the past years, Nghe An fishermen have accessed the support policy of Decree 67/CP, more than 100 large-capacity boats have been built and completed, creating favorable conditions for long-term offshore fishing. Therefore, the promulgation of Decree 17/CP is a condition for Nghe An fishermen to have more motivation to continue investing in building large-engine boats, aiming for the goal that by 2020 Nghe An will have 618 boats over 400 CV (currently the whole province has nearly 450 boats over 400 CV).