Back around the year 2000, per the new release, the Ship Registry had 9.8 gross ton; there has been a more than ten fold increase since then.
Of course, the company operating the Ship Registry on behalf of the RMI, International Registries Incorporated, also manages a very substantial off-shore corporation registry.
If you want an idea of how large this corporate registry is, do a google or bing search on "Ajeltake Road" Use the quote marks to help filter out stuff that does not pertain to the Corporate registry. For Google, will get 173,000 hits; for Bing, a more manageable 34,800.
My recollection, back in 2000, Internatioal Registries contributed about $1m per year to the RMI government.
So, the size of the ship registry alone has grown by more than 10 fold. I have no idea how much the corporate registry has grown by but certainly substantial. In comparison, how much has the contribution to your Government grown?
I have made this point before (and offered other ideas how believe the ship registry could help in development -- such as http://www.yokw…pic&topic=3483
With less than 10 years to go to end of Fiscal Year 2023 (actually, 30 September 2023) and end of most US financial assistance, except for payments that go primarily to Kwajalein landowners and the Ebeye "impact" accounts, isn't it time to press harder for more income to your nation through this enterprise?
“I hope the signing of the LUA (Land Use Agreement) allows the Government of the Marshall Islands more time to focus on the biggest issues it faces – how to raise the level of education and health of the Marshallese people and how to create an economy that will be stable after direct US funding ends in 2023.”
US Ambassador to the Marshall Islands Martha Campbell, as quoted by MI Journal, 13 May 2011, pg 4
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