The Cabinet has taken a significant step forward by reviewing the Medicinal Cannabis Industry Feasibility Study Report and approving the creation of legislation for the medicinal cannabis sector. This process will be carried out in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
PharmOut, an Australian company, has been selected to conduct the feasibility study with support from the Australian Government and the Market Development Facility. Their comprehensive report covers several critical areas, including:
– Economic and market feasibility, including a review of relevant laws and case studies.
– Operational and financial viability, assessing logistics and the investment environment.
– Recommendations for legislation and an evaluation of the potential socio-economic benefits and impacts.
– Strategic analysis and risk assessment, especially concerning illicit use and reputational risks.
This development highlights a proactive approach toward regulating and structuring the medicinal cannabis industry, potentially bringing economic benefits and improved healthcare options to Fiji. The government’s cooperation with reputable organizations may ensure the development of a robust framework for the industry, fostering innovation and investment while prioritizing safety and legality.
This concerted effort may lead to a promising future for both the inhabitants of Fiji and the broader region, as the medicinal cannabis market continues to grow worldwide. The collaboration not only indicates a commitment to enhancing healthcare offerings but also opens the door for new economic opportunities in the agricultural sector.
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