But it is possible to apply to cars, which are only about 40,000 in HCMC. Only rich people, or companies or the government can buy cars. So now is the time to introduce high tax rate on passenger cars, not on motorcycles. Of course, we cannot expect much income from this source at the moment, but in 5 or 10 years' time, when more and more people buy cars, we can. That is my suggestion on how to raise fund for mass transit development.
Mr.Sy
I had a chance to go to Japan, where I took metro. And I also looked into how metro construction was funded. I found that it was a private-invested metro system, completely. But it is quite different in Vietnam, where, unlike in Japan, no big capitalists who can make long-lived investment in transport system. People and agencies in Vietnam always feel safe when they find state participation. I mean when state investment is made, it is easy to convince private sector that the invested project is feasible. And we had better seek for foreign assistance, as it is impossible to fully rely on private sector in Vietnam. And I also agree that it is quite impossible to implement BOT form, as it may rise controversial issues.
And I would like to talk about another issue. The rapid development of motorcycles has been slowed down 4-wheel traffic flows, which is reportedly as slow as 15km per hour. This situation will remain even when we widened 4-wheel lanes, because motorcycles often invade these lanes.
But there is a solution. We had better narrow motorcycle lanes down to 3m. And I think motorcyclists will find it so inconvenient to "elbow" in such overcrowded lanes that they would gradually turn their back to this transport mode.
As for financial issues, I think there are several sources, such as government state bond sales, or if we can carry out reliable project that can refund the people later, we may expect to sell shares. And I wonder about the possibility of BO form, I mean the possibility for a private enterprise to build and operate transport infrastructure themselves; and the city's benefit is that its people feel more convenient with such new infrastructure. I don't know if this kind has been introduced anywhere, but if it has, the financial issues will be less a burden.
We can also consider financial loans for implementation, foreign loans or people's loans. This must be thoroughly considered, as if the loans are too much for our generation to pay, then the next generations will have to do that. And if this happens, it may affect the sustainable development.
Mr.Long
Everybody knows that financial issues are hard nuts to crack, for the whole transport sector in general and for railway sub-sector in particular. The plan for elevated railway from Binh Trieu to Hoa Hung has been finalized but required capital sources are not yet defined. But they are, of course, comprised of different funds and integrated with the city transport system.
