Don't let fishing boats not go to sea because of insurance problems.

Although it has been extended for 1 year, in order for the policies to support fishermen to continue to be implemented, we must wait for the Government to issue a new legal framework.

Ship 67 prepares to launch in Quynh Luu. Photo: Bich Huong

Decree 67/2014/ND-CP, the State budget supports insurance costs for offshore fishing vessels, offshore fishing logistics service vessels that are members of fishing teams, fishing cooperatives and have a total main engine capacity of 90CV or more. Specifically, annual support for insurance costs for hull, equipment, fishing gear on each vessel (all-risk insurance) at the rate of: 70% of insurance costs for vessels with a total main engine capacity of 90CV to less than 400CV and 90% of insurance costs for vessels with a total main engine capacity of 400CV or more... However, Decree 67/2014/ND-CP also clearly states that the above policy will only be implemented until the end of 2016.

In Resolution 113/NQ-CP dated December 31, 2016, the Government Conference with localities and the regular Government meeting in December 2016, the Government agreed to extend the implementation period of policies stipulated in Decree No. 67/2014/ND-CP until December 31, 2017.

Although it has been extended for 1 year, in order for the policies to support fishermen to continue to be implemented, we must wait for the Government to issue a new legal framework. In addition, according to the local summary report, in the process of implementing Decree 67, there are still some difficulties and problems such as fishermen who are building boats but banks are tightening loans, some projects have been almost completed but banks have not yet disbursed due to changes in the projects during construction... Fishermen want to expand the number of insurance companies so that they have more choices, it is necessary to expand the sea area where fishing boats are paid insurance benefits (if an accident occurs), to encourage fishermen to fish far from shore and participate in protecting the sovereignty of the sea and islands...

Considering the proposal of the State Bank of Vietnam regarding difficulties in implementing Decree No. 67/2014/ND-CP, Deputy Prime Minister Trinh Dinh Dung assigned the Ministry of Finance to study the opinion of the State Bank of Vietnam. If correct, immediately guide the implementation of the insurance support policy according to the Decree, so that fishing vessels newly built or upgraded according to the Decree cannot go to sea due to insurance problems.

The Deputy Prime Minister requested the State Bank of Vietnam to continue signing new credit contracts and disbursing signed credit contracts in accordance with current legal regulations.

According to Chinhphu.vn