The Hanoi People’s Committee has approved the pilot system set to service the downtown district of Hoan Kiem, without mentioning the starting date.
The system will cost VND26 billion (US$1.1 million).
Investor Vu Cao Tung says the bikes are manufactured by Singaporean company QIQ Global, which specializes in electric vehicle technology.
Users can book, return, and pay for their bicycles via phone application and vouchers.
The fee is expected to be VND20,000 (US$0.86) for the first hour or VND200,000 a day. The system charges as the bike wheels roll.
The investor suggests the city support installation of charging stations at various locations, including well-known spots like Phung Hung – Bat Dan garden, the Opera House garden, Phung Hung mural street and Hanoi Library.
At the end of the 18-month pilot, the investor would deploy the service across the entire city after obtaining an operating permit.
Relevant agencies are required to ensure the bikes are placed outside the walking street around Hoan Kiem Lake and that the system connects with public transport services along routes to offices and shopping malls.
The city proposed the investor design the bikes to carry the city’s logo and reflect its traits, while providing operational guidance.
Hanoi's move follows intention to launch a similar system in other cities.
Vietnam’s former imperial capital Hue stated last October it also planned to pilot a public bicycle service to serve hundreds of tourists visiting downtown areas.
Da Nang City also said last June it planned to pilot a similar service to combat traffic jams.
Tech firms Tri Nam Technology Development Investment, Mobike and IOT Vietnam proposed a bicycle-sharing plan in downtown Saigon last August, which according to a transport official, could help short-distance commuters. If approved, trials would begin in District 1, which hosts many government buildings, schools, hospitals, and 31 bus routes transporting commuters in and out of the city.