Vietnam’s Decree No. 17/2018/ND-CP: Rights and duties of boat owners

Specifically, according to Clause 18 Article 1 of Decree No. 17/2018/ND-CP of Vietnam’s Government, which adds Clauses 5 and 6 to Article 12 of Decree No. 67/2014/ND-CP, boat owners shall have the following rights and duties:

One, have access to incentives from the Government as stipulated in Decree No. 67/2014/ND-CP.

Two, decide to obtain the loan on their own, choose their favorite boats, fittings, fishnet kits and shipbuilders to build their new boats or upgrade their used boats for off-shore fishery and logistic services for off-shore fishery.

Three, repay debts and interests for loans on the construction of new boats for off-shore seafood production and logistic service boats for off-shore fishery according to legal regulations.

Four, define loan amount and maturity date which must be less than those regulated in Article 4 of Decree No. 67/2014/ND-CP and have the right to repay their loans before maturity date.

Five, supervise the construction, modification, maintenance and repairing of vessels. If a vessel owner is incapable of performing supervision works, supervision consultant shall be employed. Expenses for hiring supervision consultant shall be included in total investment for building the vessel.

Six, in case a vessel owner is incapable of implementing the project on vessel construction or the owner of a finished fishing vessel transfers the project, the new vessel owner shall be entitled to enjoy subsidy policies and enforced to discharge obligations from the project if the new vessel owner satisfies all requirements specified in this Decree.

View more amendments and supplements at: Decree No. 17/2018/ND-CP of Vietnam’s Government takes effect from March 25, 2018.

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