Building new fishing boats can be supported up to 7,300 million VND

The Ministry of Finance is presiding over the draft Decision of the Prime Minister on piloting a one-time post-investment support policy as stipulated in the Government's Decree on a number of policies for fisheries development. Accordingly, for the construction of new steel-hulled ships or ships with new material hulls, the ship owner will be supported with 52% of the total investment value of the new construction, but not exceeding VND 7,300 million/ship.

The draft clearly states that, in principle, ship owners will only receive support once after investment, after completing the construction or upgrading of the ship. In case there are multiple support policies for a project, the beneficiary organization or individual will be able to choose the highest support policy.

Each ship is only entitled to receive one-time State support under the credit policy for building new ships and upgrading ships stipulated in Decree No. 67/2014/ND-CP or under the pilot policy of one-time post-investment support stipulated in this Decision.

The support conditions are that the subjects are operating effectively in the fishing industry, have a shipbuilding investment plan, have financial capacity and a specific production and business plan, approved by the People's Committees of provinces and centrally-run cities.

Ship owners are only eligible for support when they have all of the following documents: In the case of building a new ship, they must have a fishing vessel registration certificate, a technical safety certificate, and a fishing license; In the case of upgrading a ship, they must have a technical safety certificate.

Regarding the level of support for new shipbuilding: For new shipbuilding of offshore seafood logistics service vessels, including machinery and marine equipment; machinery and equipment for seafood preservation; cargo preservation; cargo loading and unloading: In case of new shipbuilding with steel hull or new material hull, the shipowner is supported with 52% of the total investment value for new construction but not exceeding 7,300 million VND/ship.

In case of building new wooden-hulled ships, ship owners are supported with 20% of the total investment value of the new ship, but not exceeding 1,400 million VND/ship.

For the construction of new offshore fishing vessels, including machinery, marine equipment; equipment for exploitation; fishing gear; seafood preservation equipment: In case of building new steel-hulled vessels, new material hulls with a total main engine capacity from 400CV to under 800CV, the ship owner is supported with 42% of the total investment value of the new ship construction but not exceeding 2,900 million VND/ship.

In case of building new steel-hulled ships or new material ships with a total main engine capacity of 800CV or more: Ship owners are supported with 52% of the total investment value for building new ships, but not exceeding 6,200 million VND/ship.

In case of building new wooden-hulled ships; building new wooden-hulled ships while simultaneously reinforcing the hull with steel or new material: Ship owners are supported with 20% of the total investment value for building new ships, but not exceeding 1,200 million VND/ship.

For upgrading wooden-hulled ships, new material hulls with a total main engine capacity of less than 400CV to ships with a total main engine capacity of 400CV or more and upgrading engine capacity for ships with a total main engine capacity of 400CV or more: Ship owners are supported with 20% of the total value of ship upgrade, but not exceeding 400 million VND/ship.

In case of reinforcing the steel hull; covering the hull with new materials; purchasing fishing gear, marine equipment; exploitation equipment; seafood preservation equipment, loading and unloading of goods: Ship owners are supported with 20% of the total value of upgrading the ship but not exceeding 200 million VND/ship.

Newly built fishing vessels must use new engines; in case of upgrading the ship's engine, new or used engines may be used according to regulations of the Ministry of Agriculture and Rural Development.

The Ministry of Finance is seeking comments.draftThis is on the Ministry's website.

According to Chinhphu.vn