Lieutenant General Nguyen Van Long, deputy minister of Public Security, signed a decision approving the plan for the fourth auction of license plates for automobiles.

A total of 339,780 car license plates will be put up for auction. Hanoi leads with 60,230 plates available, followed by HCMC with 34,520 plates. The plates will be listed for online auction starting May 25.

The initial price for each car license plate is set at VND40 million, with the deposit matching the starting price. Each bidding increment is VND5 million.

Winning bidders must pay the full winning amount, minus the deposit, into the Ministry of Public Security’s account within 15 days from the auction result announcement.

Since September 2023, the organizing unit has successfully conducted three online auctions for over 15,100 plates worth more than VND2,000 billion. Customers have paid for 14,062 plates, amounting to nearly VND1,400 billion.

Saigon Times