Discussing policies to provide loans to fishermen for building new or upgrading fishing vessels.

(Baonghean.vn) -On the afternoon of July 4th, Comrade Dinh Viet Hong - Provincial Party Committee member, Vice Chairman of the Provincial People's Committee - chaired a working session with leaders of coastal departments and localities to discuss plans for implementing policies to provide loans to fishermen for building new or upgrading fishing vessels.

A general overview of the working session.

The draft Decree on certain policies for fisheries development, issued by the Prime Minister, stipulates credit policies for building and upgrading vessels. Accordingly, for the construction of new steel-hulled vessels, ship owners can borrow up to 95% of the total investment value from commercial banks at an interest rate of 7% per year, with the ship owner paying 1% per year and the state subsidizing 6%. For the construction of new wooden-hulled vessels, ship owners can borrow up to 70% of the total investment value at an interest rate of 7% per year, with the ship owner paying 3% per year and the state subsidizing 4%.

For steel-hulled or new material-hulled vessels with a total main engine power from 400CV to less than 800CV, shipowners can borrow up to 90% of the total investment cost at an interest rate of 7% per year, with the shipowner paying 2% per year and the state subsidizing 5%. For steel-hulled or new material-hulled vessels with a main engine power of 800CV or more, shipowners can borrow up to 95% of the total investment cost at an interest rate of 7% per year, with the shipowner paying 1% per year and the state subsidizing 6% per year… The loan term is 11 years, with the first year being interest-free and no principal repayment required. Shipowners can mortgage the value of assets formed from the loan as collateral. In addition, the Decree also promulgates several other policies such as insurance policies and tax incentives…

Video clip of the working session:

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Based on the needs of localities in the province, according to incomplete statistics from the Department of Agriculture and Rural Development, the demand for loans to build new fishing vessels and seafood logistics services by fishermen in the province is approximately 1,510.52 billion VND. This includes the demand for 340 fishing vessels and 14 logistics service vessels.

During the working session, local leaders and representatives of fishing associations from various districts exchanged views and requested the province to provide specific guidance on implementation: They need to identify funding sources, set conditions for considering eligible borrowers, and explain the disbursement methods…

Concluding the meeting, Mr. Dinh Viet Hong, Vice Chairman of the Provincial People's Committee, instructed the Department of Agriculture and Rural Development to draft a plan for allocating funds to the districts so that localities can compile their needs and consider selecting eligible borrowers.

Mr. Tuan