The Quang Tri branch of the Bank for Investment and Development of Vietnam (BIDV) signed a contract on April 23 to provide 13.7 billion VND (652,000 USD) for a local fisherman to build a steel coated boat for offshore fishing.

Doan Van Dung from Cua Viet town, Gio Linh district, is the first fisherman in Quang Tri to benefit from preferential loans in line with the Government’s Decree 67.

According to Director of BIDV Quang Tri Nguyen Sy Hong, the bank has taken the initiative to enable local ship owners and fishermen to access credit loans through simplified administrative procedures.
The bank has helped 10 fishermen complete loan procedures and 15 others are waiting for final decisions on design, cost and suitable manufacturing units for their ships.

The building of high-capacity, steel boats for deep sea fishing is one of the programmes introduced under Government Decree 67/2014/ND-CP with the aim of boosting the development of fisheries.

The move is expected to increase the tonnage of fish caught and lift the incomes of fishermen.

To be able to benefit from the programme, fishermen must be approved by the local People's Committees.

As many as 2,079 new off-shore fishing ships and 205 logistics ships will be built under this decree, according to the Ministry of Agriculture and Rural Development.-VNA