Mariculture is left in tears and debt: There is life, there is hope

Where there is hustle and bustle, there are muscles

The estimated total damage in Quang Ninh province after Typhoon No. 3 was about VND 24,000 billion. 2,637 aquaculture facilities were affected, resulting in losses of nearly VND 3,700 billion.

In Quang Ninh, a common situation exists among aquaculture farmers: those who raised more fish suffered greater losses, while those who raised less fish lost less. The storm completely destroyed some families’ fish cages, worth nearly a hundred billion VND. Tragically, some people lost their lives at sea, including Mr. Long Van Quang in Van Don.

Mr Tran Van Thien, a large-scale oyster farmer in Van Don, said at a meeting between Quang Ninh provincial chairman Cao Tuong Huy and Van Don oyster farmers to discuss plans to help people affected by the storm: “Although the authorities and the media had warned about the storm long in advance, no one expected it to be so severe and turn into a disaster. The storm was unexpectedly severe,” he said.

“Mr. Long Van Quang could not leave his cage system as it was so durable and his possessions were so valuable. Yet how can human strength withstand the forces of nature? This resulted in a deeply regrettable tragedy,” recalled Mr. Thien emotionally, reflecting on the loss of the “big brother” in the marine farming community during the devastating Typhoon No. 3.

Van Don, once a thriving, well-known sea fishing region, is now virtually deserted. Mr. Thien is overcome with melancholy and regret as he watches his villagers collect the scattered buoys, bamboo poles and pieces of wood left behind by the storm every day.

Marine farmers in Quang Ninh have suffered huge losses, but their outlook remains optimistic.

For example, Ms. Vinh from Thang Loi Island (Van Don District) and her neighbor Mr. Thanh suffered losses of nearly VND 5 billion and 10 billion respectively. Nevertheless, they persist in their efforts. Ms. Vinh and numerous other marine farmers are determined to restore their livelihoods regardless of whether they succeed or not. Mr. Thanh expressed a truly inspiring sentiment: “We will never give up.”

Mr. Tran Van Thien also took the same line, assuring the provincial chairman of Quang Ninh: “We will continue to protect the sea as long as we are alive and healthy.”

“Lifebuoy” is indispensable for restoration

Van Don fish farmers made it clear during a meeting with Quang Ninh provincial leaders and bank representatives that they are determined to “get up where they fell.” Many people expect to be able to rebuild their lives and turn Van Don into a prosperous region within just two years. However, to experience a significant increase, aquaculture households need a “lifebuoy.”

To facilitate the resumption of production, banks must freeze their debts and offer new loans at the lowest possible interest rates. In addition, they must postpone, defer or reduce taxes on the cooperatives’ maritime leaseholds.

Cao Tuong Huy, Chairman of the Quang Ninh People’s Committee, expressed concern about the losses suffered by marine farmers during Typhoon No. 3. In response to Typhoon No. 3, Mr. Huy stated that the province will soon review and implement measures and mechanisms to support businesses and citizens.

To enable rapid implementation of measures, it is crucial that local authorities promptly carry out an assessment and evaluation of the damage to aquaculture facilities and households to ensure objectivity, honesty, transparency and openness.

As mentioned in previous statements, Cao Tuong Huy sent a letter to banks on September 18, asking for support for creditors affected by Typhoon No. 3.

In his letter, Mr Huy proposed concrete measures and mechanisms to alleviate the challenges faced by customers, including freezing commitments, reducing loan interest rates, providing new loans to customers without collateral, and providing new loans with reasonable interest rates.

In accordance with the Prime Minister’s instruction in Resolution No. 143, Quang Ninh’s leadership seeks to work directly with bank heads to address the challenges faced by borrowers by discussing possible solutions.

Five commercial banks – Agribank, Vietcombank, BIDV, Vietinbank and BVBank – introduced support measures on September 19, just one day later. These measures included adjusting interest rates by 0.5% to 2% per year, completely waiving overdue interest and default interest, reducing loan interest rates and providing interest support to new borrowers, especially for short-term loans, to restart production and business activities. The support took effect on September 6. Typhoon No. 3 has accelerated the implementation of this relief initiative in provinces and municipalities across the country.

BIDV has also issued a VND200 trillion loan package to help retail customers borrow to recover from the impact of the storm. This package includes short-term, medium-term and long-term loans at preferential interest rates compared to regular loans.

Currently, the Quang Ninh branch of the State Bank of Vietnam is updating and preparing customer loss reports for the State Bank. These reports will be used to provide guidance to commercial banks, including joint-stock banks, on how to reduce loan rates for affected existing customers. In addition, a loan program is being implemented to provide new loans at attractive interest rates as well as unsecured loans for existing customers who suffered losses as a result of the hurricane, enabling them to resume production and business activities.

Typhoon No. 3 has hit Quang Ninh’s aquaculture sector hard, said Phan Thanh Nghi, deputy director of the Ministry of Agriculture and Rural Development. After assessing the damage, the ministry reviewed regulations and recommended that the provincial government offer partial financial support to farmers.

Nevertheless, Mr Nghi noted that significant investment in aquaculture is needed, particularly in the context of marine farming. Government support is relatively modest, resulting in limited assistance. Consequently, farm owners are forced to rely largely on their own resources to cope with the current challenges.

Mr. Nghi frankly acknowledged that aquaculture, especially marine farming, faces significant risks in light of Typhoon No. 3 and previous incidents. The province’s agricultural sector will provide guidance to communities, organizations and individuals with agricultural interests to ensure the efficiency of agriculture by upgrading their facilities, using environmentally friendly materials in accordance with Quang Ninh regulations and implementing scientific and technological practices. This includes developing sustainable aquaculture, including marine farming.

In addition, insurance is a critical factor that needs to be evaluated in the context of aquaculture. Mr Phan Thanh Nghi explained that in the future, the department will work with insurance companies to develop insurance products for farmers.