‘Lucky’ license plates set to go under the hammer in Vietnam
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Channeling people’s love of lucky numbers into the state budget: Why not? Vietnamese people are die-hard fans of lucky numbers and are ready to pay a hefty price to obtain license plates or phone numbers with “meaningful” strings of digits.
In that context, Vietnamese authorities have been pushing the country’s legislature for a new circular that would legalize the auction of personalized license plates to raise funds for the state budget.
The Traffic Police Department under the Ministry of Public Security has been advocating the auction of license plates for many years but to no avail due to conflicts with the existing Property Auction Law, under which license plates are not listed as valid objects for auctioning.
Questions & Answers
Q.What is the primary motivation for legalising the auction of personalised license plates in Vietnam?
What is the primary motivation for legalising the auction of personalised license plates in Vietnam?
Vietnamese authorities aim to raise funds for the state budget by tapping into people's willingness to pay a high price for license plates with lucky or meaningful number combinations.
Q.Which government department has been advocating for this change?
Which government department has been advocating for this change?
The Traffic Police Department, operating under the Ministry of Public Security, has been pushing for the auction of license plates for several years.
Q.What has prevented the auction of license plates from happening until now?
What has prevented the auction of license plates from happening until now?
The existing Property Auction Law does not list license plates as valid objects for auctioning, creating a legal conflict that has stalled previous attempts.
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