return icon Vietnamnet.vn

Lack of regulations hinders licence plate auctions

Vehicle licence plates have to be considered public assets eligible for transactions, experts said about the Government’s plan to sell highly sought-after lucky numbers via auctions.

{keywords}

Cars run on Nong Tien Bridge in Tuyen Quang Province. Public auctions for vehicle plates are hindered by the lack of regulations. 

 

 

In July 2017, a pilot programme by the public security ministry allowed vehicle owners in Hanoi, HCM City, Da Nang, Hai Phong and Can Tho to buy registration plates via auctions.

The auctions were to be conducted publicly to enhance transparency, curtail bribery and increase State revenue.

Three years have passed yet the programme has not been implemented nationwide due to issues involving ownership of the plates.

There is confusion around whether vehicle owners can keep their plates won at auction after selling their vehicles, as well as if they can trade the plates like as normal assets.

According to regulations, vehicle registration plates are public assets and the Government’s management tools, which means trading vehicle registration plates is forbidden under the Road Traffic Law.

There is no regulation defining which plates are lucky and can be sold via auctions.

According to Le Xuan Duc, deputy head of Traffic Police Department under Ministry of Public Security, plates with 88888 or last two numbers of 68 or 86 are popular.

In Vietnamese, an alternative pronunciation of the number six is 'lục' which sounds like 'lộc', meaning a windfall of money while an alternative for the number eight is 'bát' which sounds like 'phát', meaning progress. The number nine's alternative pronunciation is 'cửu', meaning everlasting and making it another lucky number in Vietnamese belief.

The prices of plates with lucky numbers are extremely high and sometimes cost more than the cars carrying them.

Do Van Sinh, member of the National Assembly’s Economic Committee, said vehicle registration plates should be conisdered public assets which are eligible to be traded, exchanged and inherited.

Economist Nguyen Minh Phong told VTV that Vietnam had not set standards for plate auctions, making it impossible to implement the plan in 2020.

“Auctioning vehicle registration plates can help raise money for social welfare activities and contribute for the State budget if it is conducted properly,” said Nguyen Viet Bac, director of Tan Viet Bac Company.

The State budget is estimated to earn VND5 trillion (US$222.2 million) a year from these transactions. — VNS

Changing licence plate colour leads to more consequences

Changing licence plate colour leads to more consequences

The MoPS has proposed to change the colour of the licence plates of ride-hailing vehicles, sparking concerns about increasing expenses, time and labour costs.

VN police to strengthen checks on fake number plates

VN police to strengthen checks on fake number plates

The Traffic Police Department under the Ministry of Public Security has asked traffic police units across the country to strengthen inspections of automobiles using fake number plates.

MORE NEWS

Downpours cause human, property losses in northern Vietnam

Hanoi and other northern provinces were inundated following heavy rains on May 23 and 24 that have caused human and property losses.

Vietnam puts forward numerous important proposals at WEF Davos 2022

Deputy Prime Minister Le Minh Khai has shared the nation’s plans to build a low-carbon, green-ecological-sustainable agriculture system with three pillars; ecological agriculture, modern countryside, and smart farmers.

Various Party members in HCM City disciplined

The Ho Chi Minh City Party Committee’s Inspection Board has disciplined seven Party members for their involvement in four cases monitored by the Central Steering Committee for Corruption and Negative Phenomena Prevention and Control.

Government proposes delay to submission of draft amended Land Law to NA

The Government has proposed a delay to a submission of the draft Law on Land (amended) to the National Assembly (NA) until the Party Central Committee issues directions on reforms of land-related policies and laws.

New records, outstanding athletes of SEA Games 31

A total of 22 new records were set at the 31st Southeast Asian Games (SEA Games 31) which concluded with a colourful ceremony in Hanoi on May 23 night.

VIETNAM NEWS HEADLINES MAY 24

Traffic accidents claim over 2,760 lives in five months

Obstacles yet to clear to pave way for robust industrial property development

Vietnam has not yet reached its full potential in industrial property development, due to inadequate regulations and a lack of social infrastructure.

Teen suicide: 'red warnings' ignored

According to statistics, about 2% of children suffer from depression. The rate is from 5% to 8% for adolescents. The rate is higher among children after puberty.

Prime Minister to host dialogue with farmers on May 29

Prime Minister Pham Minh Chinh will host a dialogue in Son La on May 29 with a participation of 500 delegates, including 300 typical farmers, cooperatives and enterprises in the agricultural field along with experts and scientists across the country.

Will housing prices cool down in late 2022?

The boost in sales and the slowdown of the land bank expansion are expected to help  land and house prices decrease in the remaining quarters of 2022, according to VNDirect Research.

Just 15 percent of urban wastewater treated

According to the Government's report, the total amount of wastewater collected and treated in urban areas is very low, only about 15 percent whereas wastewater in most rural residential areas is not treated.

VIETNAM BUSINESS NEWS MAY 24

Tight material supply impedes textile exports

Stock, real estate markets too hot, need close supervision

The Government has submitted to the National Assembly a report about the implementation of the 2021 socio-economic development plan and the deployment of the 2022 plan.

Hoi An sampan riders: the hardships and the smiles

Entering a new normal phase after more than two years of being hit hard by the COVID-19 pandemic, sampan riders in Hoi An City are eager to get back to work, expecting prosperous, stable tourism development for the town.

HCM City to host Smart City Asia 2022

A Smart City Expo & Forum in Asia (Smart City Asia 2022) will be held at the Saigon Exhibition and Convention Centre in Ho Chi Minh City from May 26 to May 28.
back_to_top