Deputy Prime Minister and Minister for Trade Manoa Kamikamica says his Ministry has undertaken a consultancy firm to prepare a feasibility study to see how medicinal cannabis is beneficial to Fiji’s economy.
Speaking to FijiLive, Kamikamica said this is after the Cabinet wanted further public consultations and a feasibility study before it endorses final approvals before moving on to the legislation’s key aspects.
Kamikamica said a report would be ready by the consultants by May, which then would be given back to Cabinet for approval.
He said Fiji is at the cusp of a new type of industry since the discussions began on medicinal marijuana in the country – The government is moving things as best as it can.
He added that medicinal marijuana is a lucrative market for Fiji with an estimated annual return of $140 million earned once the industry is up and running.
Kamikamica said close to $100 million has been committed by local and overseas investors to see the project start.
In February, the Prime Minister outlined a policy framework guiding the establishment of the medicinal cannabis industry outlines the Taskforce’s work to include (but not limited to), the following:
- Develop a comprehensive feasibility study that includes conducting nationwide consultation;
- Establish a mechanism to allow foreign investors to establish the medicinal cannabis industry in Fiji;
- Review and amend relevant laws to facilitate the medicinal cannabis industry in Fiji and
- Devise and create the right and appropriate policies and laws for the medicinal cannabis industry in Fiji
