RF Government endorses subsidizing of fishing ships construction
Russian Prime Minister Dmitry Medvedev has signed the Decree No 1917 dated 27 December 2019 (available at the official website of RF Government). The newly adopted decisions will let modernize the fishing fleet with sophisticated ships, enhance its quality, safety, sustainability and efficiency.
According to the explanatory note, civil fleet renovation is supported by the state through providing ship owners, transport and fishing companies with partial coverage of interest rates on loans and leasing payments as well as subsidies for construction of new ships to replace the scraped ones. However, these measures proved to be inefficient for the fleet of fishing and industrial ships due to a longer payback period in those segments.
The newly approved state support foresees coverage of up to 30% of newbuilds’ cost if they are built by Russian shipyards, paid in full and operated for fishing purposes for a five-year period under the flag of the Russian Federation. This subsidy is not to be provided if a fishing company enjoys other state support measures.
RUB 1.38 billion is earmarked for that purpose by the federal budget for 2020 and planned periods of 2021 and 2022.
Those decisions will contribute to the load of domestic shipbuilding companies, introduction of new technologies in shipbuilding, modernization of production facilities and generation of new jobs.
The document in Russia is available at the website of IAA PortNews >>>>
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