An Australian firm, PharmOut, has been engaged to conduct a feasibility study aimed at exploring the potentials of the Nutraceutical and Medicinal Cannabis industries in Fiji. This decision was announced following a cabinet meeting focused on the Medicinal Cannabis Industry Feasibility Study Report.
PharmOut’s study, backed by the Australian Government and the Market Development Facility, has delivered a thorough analysis that covers various aspects, including economic viability, market potential, compliance with relevant laws, and a review of international case studies. The report assesses operational and financial aspects, addressing logistics, investment climates, and legislative guidance while evaluating the overall socio-economic impacts of this emerging industry.
Additionally, the findings include a risk assessment focusing on potential illicit usage and reputational concerns associated with medicinal cannabis. In a related move, the cabinet has authorized the drafting of legislation for the Medicinal Cannabis sector, which will be developed in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
This initiative represents a significant step forward in developing the cannabis industry in Fiji, potentially offering new economic opportunities while also ensuring thorough scrutiny and legislative support to foster a safe and beneficial environment for this burgeoning sector.
In summary, this project showcases Fiji’s commitment to exploring innovative economic avenues, with the hope that it will contribute positively to the country’s development and the well-being of its citizens.
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