HCM City to auction again advertising space on buses
An auction for leasing advertising space on Ho Chi Minh City’s buses will be held between June 21 and July 18 following four previous unsuccessful attempts.
HCM City (VNA) - Anauction for leasing advertising space on Ho Chi Minh City’s buses will be heldbetween June 21 and July 18 following four previous unsuccessful attempts.
Up to 71 packages will be tendered out thistime. The advertisements can be placed on both sides of buses though with theirsize not exceeding 50 percent of the vehicle's side. The advertisements are notpermitted in the front or back or on the top.
Bidders can choose how long they want to leaseranging from six months to three years.
They will have to pay a deposit ranging from 5percent of the reserve price for a three-year contract and 15 percent forsix-month contracts.
According to the HCM City Property AuctionService Centre, where the auction will be held, of the 71 packages on offer,the lowest-priced offers advertising spaces on only four buses and starts at 205million VND (8,700 USD) for six months and over 1.2 billion VND (51,4000 USD) forthree years.
The centre said the values of the contracts havebeen fixed by the relevant authorities.
Tran Chi Trung, director of the centre, said inpreparation for the auction, the centre discussed customers’ requirements withregard to hoardings on buses with advertising firms.
The large number of packages this time wouldoffer bidders more options to choose from, he added.
Cao Thanh Binh, deputy head of the municipalPeople’s Council's economic and budget division, said the revenues from theadvertising are expected to help the city to improve its bus services, improveinfrastructure including terminals for buses and reduce subsidies.
Binh said the leasing could yield up to 200billion VND (8.6 million USD) a year, which would help reduce the subsidies thecity pays for bus services.
Around 1,000 non-subsidized buses that are inoperation are expected to use the advertising revenues to improve the qualityof their services.
HCM City spends more than 1 trillion VND (42.85million USD) a year to subsidise bus services, according to its Department ofTransport.-VNA
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Illustrative image (Source: VNA) 
