The Cabinet has recently reviewed the Medicinal Cannabis Industry Feasibility Study Report and has taken a vital step by approving the drafting of legislation for Medicinal Cannabis. This process will be carried out in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services, ensuring a thorough and legally sound approach.
PharmOut, an Australian firm, has been engaged to conduct this feasibility study with support from the Australian Government and the Market Development Facility. Their comprehensive report covers several critical aspects crucial for the establishment of the Nutraceutical and Medicinal Cannabis Industries in Fiji.
Key components of the study include:
– An examination of economic and market viability, alongside due diligence regarding existing laws, regulations, and pertinent case studies.
– An evaluation of operational and financial viability, which encompasses logistics, legislative requirements, and the investment landscape.
– Guidance on the necessary legislation and an assessment of the potential benefits, as well as the socio-economic impacts of a medicinal cannabis industry.
– Strategic analyses and risk assessments that specifically address concerns about illicit use and possible reputational risks.
This initiative could lead to significant economic opportunities for Fiji, enhancing healthcare options while promoting responsible industry practices. As the country moves forward with this legislation, it has the potential to create jobs, attract investments, and provide new avenues for growth within the medicinal cannabis sector.
Overall, the steps taken by the Cabinet are indicative of a progressive approach to healthcare and economic development in Fiji. The comprehensive nature of the feasibility study suggests that the government is committed to establishing a robust legal and operational framework that prioritizes the well-being of its citizens while exploring innovative industries.
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