Transcript
In April, Rongelap Mayor James Matayoshi unveiled the plans for the Rongelap Atoll Special Administrative Region at the Asia World Expo in Hong Kong.
The new area would operate under a different set of laws than the Marshall Islands and its backers include a former Marshall Islands President and the Parliament's chairperson.
Mr Matayoshi says the special region will attract investment which will allow it to develop infrastructure to delay the effects of climate change by at least another 100 years.
"Climate change has been one of the main concerns for the sinking islands, and our islands are sinking under the sea in 50-60 years. And, this is one of the solutions that we wanted to promote to help create new lands within our lagoon and elevate to make it higher."
Other than building a new development from scratch, the current draft of the bill proposes tax incentives for investors, a new tax-free port and services for offshore companies registered in Rongelap.
Crucially, it would also be exempt from two financial provisions of Marshall Islands law, which would streamline investment but has raised concerns it will lead to money laundering.
Rumours have also circulated that the scheme will grant investors easy citizenship and access to the United States, something its backers deny.
Although the bill is yet to go before parliament, RNZ Pacific has seen online advertisements of as many as 1,000 houses for sale to Chinese investors in the proposed region.
But John Masek, an attorney based in Majuro who is working on the project, said nothing is being sold until the bill passes.
"When the legislation is in place and it's legally established, then yeah, certainly. But as far selling homes, that's maybe deposits on lots in the future, after the legislation is done. But right now, the advertising you've described to me is premature."
The Mayor, Mr Matayoshi, says the project has been plagued by fake news when it is really just about improving conditions on Rongelap.
"Right now there is nothing here in the Marshall Islands, especially in the outer islands. That's how isolated we are and far away from the main economies and markets and we will promote to bring our isolation into being part of the globalised economy."
He says the region will replicate the success of Hong Kong, Singapore and Dubai, attracting offshore investment, creating more local jobs and boosting the country's economy.
"We are the top 10 percent of the worst countries in the world that is not friendly towards tourism and how people can ... accessibility of the islands. I've seen myself travelling to Hong Kong without any Hong Kong passport, just using my RMI [Marshallese] passport."
Hong Kong is a blueprint in more ways than one - according to the China Daily, Mr Matayoshi told the expo in Hong Kong that the "one country, two systems" relationship with China is a good model for the Marshall Islands to adopt.
However, he appears to be referring to its relaxed regulations rather than its constitutional relationship with Mainland China.
Parliament in Majuro resumed this week, where the bill is expected to be heavily debated.
