Van Huu Chien, chairman of the People’s Committee of the central city of Da Nang has announced a new policy by which fishermen will receive financial support to build new, bigger and better boats.
On August 29, the People’s Committee of Da Nang announced a policy that will offer financial aid to fishermen from VND500-800 million to build new boats to replace their old boats.
Under the policy, fishermen with permanent residency in Da Nang will receive VND500 million (US$24,000) for building a boat between 400-600CV capacity; VND600 million ($28,776) for building a boat between 600-800CV capacity and VND800 million ($38,369) for boats of more than 800CV capacity.
Fishermen will have to commit that they will use the new boat within two years of receiving the fund. In case, they transfer the boat to another person, they will have to refund the support money back to the City.
Da Nang City has also offered free registration of the boats to the owners.
