The trial, starting Thursday, will last until Sept. 30, making District 1 the first in the city to do it.
There had been talk about renting out space on some roads and sidewalks for parking vehicles and running small businesses from Jan. 1 this year.
The District 1 roads are Hoang Sa, Mac Dinh Chi, Hai Trieu, Chu Manh Trinh, Le Thanh Ton, Phan Boi Chau, Phan Chu Trinh, Ham Nghi, Tran Hung Dao, Co Bac, and Vo Van Kiet.
The district had listed 52 roads with sidewalks that could be leased out to businesses and 12 others for parking.
It said the pilot aims to "refine and standardize the management and registration of sidewalk usage for business activities."
Software would be made available for people to conveniently find information and pay rentals.
In December last year the city Department of Transport released a list of nearly 900 streets in five areas that meet the conditions to be leased out.
Its criterion for sidewalks is at least three meters wide so that half each could be used by pedestrians and businesses.
In the case of roads, two lanes in each direction are earmarked for cars and any additional space can be used for other purposes.
The parking fee ranges from VND50,000 (US$2) per square meter per month to VND350,000. Other activities will be charged VND20,000-100,000.
HCMC has 4,869 roads spanning at least 5m wide, with 2,600 having no sidewalks.
People often encroach on streets and sidewalks for parking and doing business, affecting the free flow of traffic and appearance.