Sunday, February 25, 2024
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Medicinal cannabis industry to be finalised in 2024

The Government is looking to finalise the creation of the medicinal marijuana industry by next year after Cabinet signs off on it.

Speaking to FijiLive, Minister for Trade, Manoa Kamikamica said the consultations are in its final stages and the taskforce intends to undertake a feasibility study, before Cabinet endorses it and to be tabled in Parliament to be legislated.

Kamikamica said for the People’s Coalition, economic diversification is key to growing the economic pie and addressing issues like poverty and Fiji’s $10 billion debt that needs servicing.

He said the new industry will create more jobs and tax.

Consultation

The Deputy Prime Minister said that the consultation has been going well and that there is a general acceptance in Fiji.

Kamikamica said the only concern is its regulation and making sure that the product made are secured because of its illegal nature.

He said the Government is totally focused on the export of medicinal marijuana – and no local consumption.

He said that medicinal marijuana is a lucrative market for Fiji, with an estimated annual return of $140 million is earned, once the industry is up and running.

Kamikamica said close $100 million has been committed by local and overseas investors to see the project start.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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