The Cabinet has recently reviewed the Medicinal Cannabis Industry Feasibility Study Report and has approved the development of legislative frameworks to govern medicinal cannabis in the country. This process will involve close consultation with both the Office of the Solicitor-General and the Ministry of Health and Medical Services to ensure that all legal and health considerations are comprehensively addressed.
The project is bolstered by support from the Australian Government and the Market Development Facility. PharmOut, an Australian company, was chosen to carry out the feasibility study, focusing on the potential for developing Nutraceutical and Medicinal Cannabis Industries in Fiji. Their extensive report encompasses several crucial areas for consideration:
– An analysis of economic and market feasibility, including a review of pertinent laws, regulations, and case studies.
– An assessment of operational and financial viability, detailing logistics, legislative context, and the overall investment landscape.
– Recommendations on regulatory frameworks and evaluation of potential benefits along with socio-economic implications.
– Strategic assessments and risk evaluations concerning potential illicit usage and reputational risks associated with the industry.
This initiative reflects a growing recognition of the medicinal cannabis sector’s potential benefits, presenting an opportunity for economic development and improved healthcare options in Fiji. With careful legislative planning and comprehensive risk management, there is optimism surrounding the positive impacts this industry could bring to the nation. The thoughtful engagement of relevant authorities and stakeholders suggests a collaborative effort towards establishing a framework that prioritizes public health and safety while exploring new economic avenues.
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