This Decision approves the Vietnam Asset Protection Joint Stock Corporation to pilot agricultural insurance in some localities during the period of 2011-2013 with rice crop insurance, livestock insurance, and aquaculture insurance products.
Scope of application
The Vietnam Asset Protection Joint Stock Corporation, local authorities, and relevant agencies in the permitted provinces may implement the pilot program.
Key points
- The Vietnam Asset Protection Joint Stock Corporation is permitted to implement agricultural insurance in specific areas (Article 1).
- The insurance products to be implemented include rice crop insurance, livestock insurance, and aquaculture insurance (Article 1).
- The Vietnam Asset Protection Joint Stock Corporation must comply with the provisions of Circular No. 121/2011/TT-BTC and related laws during the implementation of the pilot program (Article 2).
- This Decision takes effect from the date of issuance.
🌐 Social impact of this document
- Creating conditions for farmers to participate in agricultural insurance, reducing risks from natural disasters and diseases.
- Developing the agricultural insurance market in Vietnam.
- Localities piloting may encounter difficulties in coordinating the implementation.
❓ Frequently asked questions
Which provinces is the Vietnam Asset Protection Joint Stock Corporation permitted to implement agricultural insurance in?
Nam Dinh, Thai Binh, Nghe An, Ha Tinh, Binh Thuan, An Giang, Dong Thap (rice crop); Bac Ninh, Nghe An, Dong Nai, Vinh Phuc, Hai Phong, Thanh Hoa, Binh Dinh, Binh Duong, Hanoi (livestock); Ben Tre, Soc Trang, Tra Vinh, Bac Lieu, Ca Mau (aquaculture).
Which agricultural insurance products are being implemented?
Rice crop insurance, livestock insurance, and aquaculture insurance.
What regulations must the Vietnam Asset Protection Joint Stock Corporation comply with during the implementation of the pilot program?
Comply with Circular No. 121/2011/TT-BTC of the Ministry of Finance and related laws.
When does this Decision take effect?
Takes effect from the date of issuance (September 9, 2011).
Full text
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIET NAM |
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Number: 2174/QD-BTC |
Hanoi, September 9, 2011 |
Pursuant to …;
Approving the insurance company to pilot agricultural insurance
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THE MINISTER OF FINANCE
Pursuant to the Insurance Business Law 2000, the Law Amending and Supplementing Certain Provisions of the Insurance Business Law, and guiding documents for implementation;
Pursuant to the Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to Decision No. 315/QD-TTg dated March 1, 2011 of the Prime Minister on implementing the pilot agricultural insurance program for the period 2011-2013;
Pursuant to Circular No. 121/2011/TT-BTC dated August 17, 2011 of the Ministry of Finance guiding certain provisions of Decision No. 315/QD-TTg dated March 1, 2011 of the Prime Minister on implementing the pilot agricultural insurance program for the period 2011-2013;
Pursuant to the License for Establishment and Operation No. 45GP/KDBH dated November 23, 2007 of the Vietnam Asset Insurance Corporation;
Considering the request of the Vietnam Asset Insurance Corporation at Document No. 2793/BHBV/2011 dated September 1, 2011 and the attached files;
At the proposal of the Director of the Insurance Management and Supervision Department,
Pursuant to …;
Article 1.
Permitting the Vietnam Asset Insurance Corporation to participate in piloting agricultural insurance for the period 2011-2013 with the following contents:
1. Object and area permitted to pilot:
a) Rice: Nam Dinh, Thai Binh, Nghe An, Ha Tinh, Binh Thuan, An Giang, Dong Thap.
b) Livestock (cattle, pigs, poultry): Bac Ninh, Nghe An, Dong Nai, Vinh Phuc, Hai Phong, Thanh Hoa, Binh Dinh, Binh Duong, Hanoi.
c) Aquatic products (tra catfish, basa fish, whiteleg shrimp, black tiger shrimp): Ben Tre, Soc Trang, Tra Vinh, Bac Lieu, Ca Mau.
2. Insurance products permitted to pilot:
a) Crop insurance for rice;
b) Livestock insurance;
c) Aquatic product insurance.
The Vietnam Asset Insurance Corporation shall proactively coordinate with local authorities and relevant agencies to implement specific insurance products approved by the Ministry of Finance.
Article 2. During the pilot implementation, the Vietnam Asset Insurance Corporation must comply with the provisions of Circular No. 121/2011/TT-BTC dated August 17, 2011 of the Ministry of Finance guiding certain provisions of Decision No. 315/QD-TTg dated March 1, 2011 of the Prime Minister on implementing the pilot agricultural insurance program for the period 2011-2013 and related laws. In case of difficulties or obstacles, timely report to the Ministry of Finance for consideration and resolution.
Article 3.
This Decision takes effect from the date of signature.
The Director of the Office, the Director of the Insurance Management and Supervision Department, the Vietnam Asset Insurance Corporation, and the heads of related units are responsible for enforcing this Decision.
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Place of Receipt: |
DEPUTY MINISTER
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