The Cabinet has reviewed the Feasibility Study Report on the Medicinal Cannabis Industry and has initiated the process of drafting legislation related to medicinal cannabis. This legislative effort will be carried out in consultation with the Office of the Solicitor-General as well as the Ministry of Health and Medical Services.
The Australian Government, along with the Market Development Facility, has supported the selection of PharmOut, an Australian firm, to create the feasibility study addressing the Nutraceutical and Medicinal Cannabis Industries in Fiji.
PharmOut’s comprehensive report covers several key areas, including:
– Economic and market feasibility, including relevant laws, regulations, and pertinent case studies.
– Operational and financial viability, focusing on logistics, the investment climate, and legislative considerations.
– Guidance on potential legislation, assessing benefits and socio-economic impacts.
– Strategic analysis and risk assessments related to illicit usage and possible reputational risks.
This move towards establishing a medicinal cannabis industry in Fiji is a significant step towards economic diversification and potential job creation, while also aiming to enhance the health and wellness sector in the country. The collaboration with Australia reflects a growing trend of international partnerships in developing the medicinal cannabis sector, which can contribute to positive socio-economic development.
Overall, this initiative shows promise for the future of Fiji’s economy and health sector, provided that the relevant legislation is successfully developed and implemented.
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