Vehicles travel on a street in HCMC. The city has approved a plan to raise registration fees for new automobiles and motorbikes to the highest levels regulated in Circular 229 of the Ministry of Finance:

At an extraordinary meeting held by the the HCMC People's Council on October 6, participating delegates passed the increase in the registration fee, which will come into force next week.

Apart from the highest fee increase for under-nine-seat vehicles, the city raised the fee from VND750,000 to VND1 million for motorbikes that cost up to VND15 million each.

Motorcycles priced at more than VND15 million to VND40 million each are subject to a new fee of VND2 million instead of the previous VND1.5 million. The registration fee for motorbikes worth over VND40 million each will be VND4 million, up VND1 million.

HCMC Vice Chairman Vo Van Hoan noted that the new fees are equivalent to those imposed by Hanoi City. The highest fees are regulated in Circular 229 from the Ministry of Finance.

The new fees will come into force on October 17. The HCMC police will be in charge of collecting the fees for submission to the city’s budget.

The city sees some 30,000 vehicles on average being registered each month.

In addition, at the meeting, the delegates also approved the resolution on the VND100-billion investment to build the city’s startup center. The HCMC People's Council Chairwoman Nguyen Thi Le stated that the project will play an important role in promoting the city’s innovative startup activities. SGT