An Australian company, PharmOut, has been appointed to conduct a feasibility study for the Nutraceutical and Medicinal Cannabis sectors in Fiji. This initiative received backing from the Australian Government and the Market Development Facility.
The announcement came during a recent Cabinet meeting, which reviewed the findings of the Medicinal Cannabis Industry Feasibility Study Report. PharmOut’s study has produced an extensive analysis covering economic and market viability, along with a thorough examination of relevant laws, regulations, and case studies.
The report addresses operational and financial viability, including factors such as logistics, legislative frameworks, the investment climate, and an assessment of potential benefits and socio-economic impacts. Additionally, it includes a risk assessment focused on issues of illicit use and the associated reputational risks.
In a positive development, the Cabinet also sanctioned the drafting of Medicinal Cannabis legislation, which will be crafted with input from the Office of the Solicitor-General and the Ministry of Health and Medical Services.
This move signals a progressive step for Fiji as it explores the potential advantages of the medicinal cannabis industry, which could pave the way for new economic opportunities and health advancements in the country.
Overall, the collaboration between Australian experts and Fijian authorities highlights a commitment to responsible development in this emerging sector.
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