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.
Cars run on Nong Tien bridge in Tuyen Quang province. (Source: vietnamnet.vn)
Hanoi (VNS/VNA) -Vehicle licence plates have to be considered public assets eligible fortransactions, experts said about the Government’s plan to sell highlysought-after lucky numbers via auctions.
In July 2017, a pilot programmeby the Ministry of Public Security allowed vehicle owners in fivecentrally-run cities - Hanoi, Ho Chi Minh City, Da Nang, Hai Phong and Can Tho- to buy registration plates via auctions.
The auctions were to beconducted publicly to enhance transparency, curtail bribery and increase State revenue.
Three years have passed yet theprogramme has not been implemented nationwide due to issues involving ownershipof the plates.
There is confusion aroundwhether vehicle owners can keep their plates won at auction after selling theirvehicles, 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 managementtools, which means trading vehicle registration plates is forbidden under theRoad Traffic Law.
There is no regulation definingwhich plates are lucky and can be sold via auctions.
According to Le Xuan Duc, DeputyDirector of Traffic Police Department under Ministry of Public Security, plateswith 88888 or last two numbers of 68 or 86 are popular.
In Vietnamese, an alternativepronunciation of the number six is 'luc' whichsounds like 'loc', meaning a windfallof money while an alternative for the number eight is 'bat' whichsounds like 'phat', meaning progress.The number nine's alternative pronunciation is 'cuu',meaning everlasting and making it another lucky number in Vietnamesebelief.
The prices of plates with luckynumbers are extremely high and sometimes cost more than the carscarrying them.
Do Van Sinh, member of theNational Assembly’s Economic Committee, said vehicle registration plates shouldbe considered public assets which are eligible to be traded, exchanged andinherited.
Economist Nguyen Minh Phongtold VTV that Vietnamm had not set standards for plate auctions, making itimpossible to implement the plan in 2020.
“Auctioning vehicleregistration plates can help raise money for social welfare activities andcontribute for the State budget if it is conducted properly,” said Nguyen VietBac, Director of Tan Viet Bac Company.
The State budget is estimatedto earn 5 trillion VND (222.2 million USD) a year from these transactions./.
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Cars run on Nong Tien bridge in Tuyen Quang province. (Source: vietnamnet.vn) 
