As of August 2, 2024, the Ministry of Public Security has organized the fourth auction, spanning 188 days. During this period, a total of 1,184,352 license plates have been offered for auction, with 32,151 plates successfully auctioned off. The total value of the auctioned assets stands at VND 2,832,725,000,000, and the auction winners have remitted VND 2,723,136,883,397 into the specialized account of C08 for submission to the state budget.
Some of the notable license plates and their auction values include: 51K-88888 (VND 15,265,000,000), 30K-55555 (VND 14,495,000,000), 11A-11111 (VND 8,780,000,000), 72A-77777 (VND 6,850,000,000), 88A-66666 (VND 6,705,000,000), 36A-99999 (VND 5,285,000,000), 22A-22222 (VND 5,130,000,000), 30K-89999 (VND 4,655,000,000), and 99A-66666 (VND 4,270,000,000), among others.
Auction of license plates generates over VND 2,700 billion for the state budget
On June 27, the National Assembly passed the Law on Road Traffic Order and Safety, which will come into effect on January 1, 2025. This law includes provisions for auctioning license plates, aiming to efficiently utilize public assets, generate revenue for the state budget, and invest in infrastructure for registration and license plate issuance. It also streamlines administrative procedures, ensuring fairness and transparency in the license plate allocation process, with equal opportunities for all citizens to participate in the auction.
The Law on Road Traffic Order and Safety delegates the Government to elaborate on certain aspects of license plate auctions, including the addition of auctions for yellow-background commercial vehicle license plates (with white letters and numbers) and motorcycle license plates.
The Ministry of Public Security is currently collaborating with the Ministry of Justice and the Ministry of Finance to draft a decree on license plate auctions, which will be submitted to the Government for issuance. Following the Prime Minister’s approval, the Ministry of Public Security will commence auctions for commercial vehicle license plates and motorcycle license plates, in addition to passenger vehicle license plates.
