Do Ba Dan, chairman of Tri Nam Group JSC, the investor of the bike rental model, said the firm had imported 500 bikes for the project with 388 put in use already, while the remainder are kept as standby vehicles.
The bikes are placed at 43 stations which are situated on the pavements of some streets in District 1 and are near local bus stops and parks.
People need to install the mobile app on their smartphones and fill out personal information for using the service.
The app helps to locate the nearest station for users. After paying rental, the user will be given a QR code to unlock a bicycle.
In the pilot period, the fees are at VND5,000 for every 30 minutes and VND10,000 for an hour. The first 15 minutes of cycling are currently free of charge.
Tran Quang Lam, director of the HCM City Department of Transport, said that the service could reduce air pollution for the city. Early next year, HCM City will pilot the electric bus service and reopen many international flights.