(VOVworld) – Prime Minister Nguyen Tan Dung has issued a decree on fisheries development related to loans, insurance, tax incentives, ship building, and infrastructure development.

Fishermen who want to build or upgrade ships can obtain 11-year loans of up to 95% of their total cost at an interest rate between 1% and 3% per year. In the first year, ship owners are exempted from interest, and assets produced from the loans can be used as collateral. If ship owners face severe risks, they can get extended terms and loan insurance.

Fishermen in Quang Ngai province build new ships. (Photo: VOV)

Fishermen and fisheries logistic service providers who operate efficiently and have a solid financial capability and business plan can borrow up to 70% of the total capital needed.