The Quang Tri branch of the Vietnam Bank for Agriculture and Rural Development (Agribank) recently signed contracts to provide 23 billion VND (1.06 million USD) for two local fishermen to build iron-clad ships for fishing.

Accordingly, Vo Van Huu from Gio Linh district will receive 18.25 billion VND (845,000 USD) to construct a ship with capacity of 1,200 CV.

Meanwhile, Dinh Van Trinh from Trieu Phong district will be provided 4.5 billion VND (215,000 USD) to build a new vessel with capacity of 600 CV.

The two ships are expected to be completed by the end of this year.

Previously, Doan Van Dung from Cua Viet town, Gio Linh district, was the first fisherman in Quang Tri to benefit from preferential loans from the Bank for Investment and Development of Vietnam (BIDV) in line with Government Decree 67.

The building of high-capacity steel boats for deep sea fishing is one of the programmes introduced under Government Decree 67/2014/ND-CP to boost fishery development.

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

To be eligible for the programme, fishermen must be approved by 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