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Vietnam - Agricultural insurance against crop and livestock losses to be launched

Prime Minister Nguyen Xuan Phuc has issued a decision on the implementation of agricultural insurance policy.

Under Decision No. 22/2019/QD-TTg dated June 26, 2019, such plants, animals and aquaculture products like rice, cow, buffalo, black tiger shrimp and while-leg shrimp will receive support of agricultural insurance fees.

Individuals who work in agriculture and belong to poor households, and near-poor households in line with Decision No. 59/2015/QD-TTG dated November 19, 2015 will be covered up to 90 percent of agricultural insurance premiums.

Those who do not belong to poor or near poor households will be assisted with 20 percent of the fees.

An agricultural organisation may be supported with 20 percent of the premiums if it is established in accordance with the Law on Enterprises or the Law on Cooperatives, and fulfils other requirements regarding connectivity in agricultural production and consumption, and food quality and safety.

The decision also lists cities and provinces which enjoy the assistance policy, which lasts from June 26, 2019 when the document took effect, till December 31, 2020.

Source – https://en.vietnamplus.vn