According to a fisheries development policy decree approved by the central government on 7 July, Vietnamese fishermen can access loans for building new boats from the government’s 10 trillion VND credit package.  In detail, they can borrow between 70% and 95% of the total cost of a boat at an interest rate, depending on the type of boat, of between 1% and 3% pa over an 11-year term.  The loans can be used for building new steel-hulled and high-capacity wooden-hulled fishing boats, or for increasing the capacity of existing ones.  This is good news for fishermen across the country.

Over recent days, many of Da Nang’s fishermen have become excited at the prospect of loans to build more fishing boats to maintain fishing activities in Viet Nam’s waters.  This shows their deep attachment to their livelihoods and to the beloved country’s sea and islands.  To date, 10 local fishermen have registered to build steel-hulled fishing boats.

Steel-hulled fishing boat

The Vice Chairwoman of the Son Tra District People’s Committee, Mrs Tran Thi Thanh Tam, remarked that the decree satisfies local fishermen’s strong desire to have enough money to build high-capacity offshore fishing boats.  She added that the majority of the local fishing vessels often operate in the traditional Hoang Sa fishing grounds.  Accordingly, more offshore fishing trips to the Hoang Sa waters will help to safeguard the country’s sovereignty over its sea and islands.  Mrs Tam also suggested that the local relevant agencies should better publicise the decree to local fishermen.  In addition, special attention should be paid to training more people for the local fishing industry and also to improve the management of the operation of local fishing boats.