Vietnam: An individual that produces agricultural products shall be eligible for an assistance of 90% of agricultural insurance premiums

According to Decree No. 58/2018/NĐ-CP of Vietnam’s Government, individuals and organizations that produce agricultural products subject to the State’s agricultural insurance assistance policy shall be eligible for the following assistance:

- An individual that produces agricultural products and is a member of a poor household or near poverty household is eligible for an assistance of not greater than 90% of agricultural insurance premiums.

- An individual that produces agricultural products and is not a member of a poor household or near poverty household is eligible for an assistance of not greater than 20% of agricultural insurance premiums.

- An organization that produces agricultural products by using a large-scale and concentrated cooperation model that applies advanced technologies and production processes towards green, hi-tech and environmentally friendly agriculture is eligible for an assistance of not greater than 20% of agricultural insurance premiums.

Insured risks eligible for assistance include:

- Disaster risks, including: Storm, tropical depressions, lightning, cyclones, heavy rain, floods, flash floods, inundations, landslides and land subsidence due to floods or water currents, water level rise, seawater intrusion, extremely hot weather, droughts, damaging cold, etc. Disasters shall be announced or confirmed by a competent authority.

- Disease risks, including: Animal diseases, plant pests, etc. Diseases and pests shall be announced or confirmed by a competent authority.

View more details at Decree No. 58/2018/NĐ-CP of Vietnam’s Government, effective from June 05, 2018.

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