THE PROCESS OF RENEWAL OF THE FISHING FLEET IN NATIONAL SHIPYARDS ADVANCES
Government moves ahead with the process of renewal of the national fishing
fleet to improve efficiency and strengthen security sector and employment
generation in the domestic shipbuilding industry. Fishery companies have
already expressed their willingness to build at least eight ships in
domestic shipyards with private financing. To that end, the Bank for
Investment and Foreign Trade (BICE), belonging to the Federal Government
opened earlier this year a line of credit granted terms up to five years
and up to 60 million pesos (or its equivalent in dollars) operation without
exceeding 80 percent of its value. The announcement is in line with a
presidential decree last February that states that vessels must have a less
than 40 years old, although that period may be extended to 60 if a
reconstruction of at least 60 percent of the ship in domestic shipyards is
credited or it is set as the target capture squid. The standard allows
develop the whole value chain associated with the sector, which provides
incentives for ships to be replaced by others built in national shipyards
receive 10 percent improvement in fishing capacity. The Ministry of
Production and Labor fishing facilitates SMEs access to credit through the
Argentine Guarantee Fund (FOGAR), providing guarantees if necessary. The
Central Bank had readjusted to 2018 regulations on ship mortgage now
facilitates financing for the sector to guarantee 40 percent of the value
of the ship when it is finished, or 50 percent of the appraised value when
it is under construction. The fisheries sector exports over 90 percent of
what it produces: in 2018 sold abroad for more than 2000 million - 7
percent more than in 2017 of which 60 per cent are prawns. The shipbuilding
industry and fishing accounts for 0. 7 percent of the national GDP. There
are currently 383 registered shipowners, 553 vessels with valid fishing
permits and 135 industrial plants on land.
fleet to improve efficiency and strengthen security sector and employment
generation in the domestic shipbuilding industry. Fishery companies have
already expressed their willingness to build at least eight ships in
domestic shipyards with private financing. To that end, the Bank for
Investment and Foreign Trade (BICE), belonging to the Federal Government
opened earlier this year a line of credit granted terms up to five years
and up to 60 million pesos (or its equivalent in dollars) operation without
exceeding 80 percent of its value. The announcement is in line with a
presidential decree last February that states that vessels must have a less
than 40 years old, although that period may be extended to 60 if a
reconstruction of at least 60 percent of the ship in domestic shipyards is
credited or it is set as the target capture squid. The standard allows
develop the whole value chain associated with the sector, which provides
incentives for ships to be replaced by others built in national shipyards
receive 10 percent improvement in fishing capacity. The Ministry of
Production and Labor fishing facilitates SMEs access to credit through the
Argentine Guarantee Fund (FOGAR), providing guarantees if necessary. The
Central Bank had readjusted to 2018 regulations on ship mortgage now
facilitates financing for the sector to guarantee 40 percent of the value
of the ship when it is finished, or 50 percent of the appraised value when
it is under construction. The fisheries sector exports over 90 percent of
what it produces: in 2018 sold abroad for more than 2000 million - 7
percent more than in 2017 of which 60 per cent are prawns. The shipbuilding
industry and fishing accounts for 0. 7 percent of the national GDP. There
are currently 383 registered shipowners, 553 vessels with valid fishing
permits and 135 industrial plants on land.