An Australian company, PharmOut, has been appointed to conduct a feasibility study for the Nutraceutical and Medicinal Cannabis Industries in Fiji, with the backing of the Australian Government and the Market Development Facility. This decision was announced during a recent Cabinet meeting which focused on the report concerning the Medicinal Cannabis Industry Feasibility Study.
PharmOut’s report offers a thorough evaluation of both economic and market feasibility, while also examining relevant laws and regulations through various case studies. The study assesses the operational and financial viability of the industry in Fiji, considering aspects such as logistics, legislative frameworks, the investment climate, and potential socio-economic impacts.
Additionally, the report addresses risk factors associated with illicit use and the potential reputational risks involved. Following this comprehensive evaluation, the Cabinet has also approved the drafting of legislation for the Medicinal Cannabis sector, which will be collaboratively developed in consultation with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
This initiative signifies a progressive step for Fiji, positioning the nation to explore the benefits of the medicinal cannabis sector while ensuring that the necessary frameworks are in place to support responsible development.
In summary, this move not only reflects a commitment to advancing the medicinal cannabis industry but also highlights the importance of thorough evaluation and legislative support in fostering sustainable economic growth. With careful planning and collaboration, Fiji has the opportunity to embrace this evolving industry positively.
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