An Australian company, PharmOut, has been chosen to conduct a feasibility study aimed at developing the Nutraceutical and Medicinal Cannabis industries in Fiji. This important partnership is supported by the Australian Government and the Market Development Facility.
The announcement was made during a Cabinet meeting, where the findings of the Medicinal Cannabis Industry Feasibility Study Report were discussed. The comprehensive report by PharmOut covers multiple facets, including economic and market feasibility, along with an exploration of relevant laws, regulations, and applicable case studies.
Additionally, the report addresses operational and financial feasibility, focusing on logistics, the legislative environment, investment opportunities, and an assessment of potential socio-economic benefits and impacts. It also includes a risk assessment that considers the potential for illicit use and reputational risks associated with the industry.
As a significant step forward, the Cabinet has approved the drafting of Medicinal Cannabis legislation, which will be developed in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
This initiative highlights Fiji’s commitment to exploring innovative agricultural and medicinal practices, potentially enhancing the economic landscape and addressing health needs within the community. The collaboration between Australian and Fijian entities provides a hopeful outlook for the sustainable development of the Medicinal Cannabis industry in the region, promoting both economic growth and health advancements.
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