Fishing boats anchored at Tinh Hoa port, Quang Ngai province. Photo: VOV
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The resolution also supports fishermen in vocational training, transitioning to new livelihoods, contributing to combating illegal, unreported, and unregulated (IUU) fishing, and stabilizing the lives of coastal residents.
The resolution takes effect from January 1, 2026 and the assistance will run until December 31, 2026.
According to the resolution, owners of fishing vessels undergoing decommissioning will receive a one-time subsidy equivalent to 40% of the vessel's value as stated in the valuation certificate at the time of appraisal.
Specifically, fishing vessels with a maximum length of 6 m to under 12 m will receive a maximum subsidy of 1,900 USD per vessel; from 12 m to under 15 m, a maximum subsidy of 3,800 USD per vessel; from 15 m to under 20 m, a maximum subsidy of 7,600 USD per vessel; and fishing vessels with a maximum length of 20 m or more will receive a maximum subsidy of 11,400 USD per vessel.
In addition, the province will provide a subsidy of 190 USD to each fishing vessel owner participating in vocational training.