BVI MOVES TO LEGALISE CANNABIS FOR MEDICINAL PURPOSES
Written by Fuze Team on July 1, 2020
Moves are being made to legalise the use of Cannabis/Marijuana for medicinal purposes.
The Cannabis Bill 2020 is currently before the House of Assembly.
In Presenting the Bill, Premier Andrew Fahie said he is not here to promote any recreational use of marijuana, but to advocate for the economic benefits of a medical marijuana industry, in a controlled and highly regulated framework.
Premier Fahie said it has now been recognised worldwide that marijuana has medical benefits and on the basis of this medical application and use, many jurisdictions around the world are making it legal to cultivate certain strains of the crop and to use some of its derivative products. And this is big business. It is a billion-dollar global market – approximately US $150 billion (£116.4bn).
He also said they have to gather up their resources, and that is why the government has been serious and dedicated to creating the enabling environment for the birth of new industries and new businesses – new opportunities for their people.
According to Premier Fahie, it is because they understand the urgency with which the BVI must be transformed.
Introducing a medical marijuana industry to the BVI as a new industry and a new revenue stream will have a lot of benefits for the Territory and for our people.
Hon. Andrew A. Fahie, Premier
The Premier said that in the first instance, they have identified 50 acres of land at Paraquita Bay which will be appropriated for medical marijuana cultivation and it is no secret that foreign investors have expressed an interest in partnering with the BVI to get the industry up and running.
