The Cabinet has reviewed a report on the feasibility of the Medicinal Cannabis Industry and has approved the initiation of legislative drafting for its establishment. This process will be carried out in conjunction with the Office of the Solicitor-General and the Ministry of Health and Medical Services to ensure compliance and effectiveness.
PharmOut, an Australian firm, was chosen to conduct this feasibility study with the backing of the Australian Government and the Market Development Facility. The comprehensive report generated by PharmOut covers several key areas critical to the development of the industry, including:
– An analysis of economic and market feasibility along with due diligence, which involves examining applicable laws, regulations, and relevant case studies.
– An evaluation of operational and financial viability, considering logistics, the legislative framework, and the investment climate.
– Recommendations for potential legislation and assessments of the socio-economic benefits and impacts that the industry could bring.
– Strategic analysis and risk assessment addressing concerns related to illegal use and potential reputational damage.
This initiative represents a significant step toward exploring the potential benefits of medicinal cannabis in Fiji, which could not only improve health outcomes but also bolster the economy by creating new market opportunities. By engaging with relevant authorities and experts, the government demonstrates its commitment to responsible development in this emerging sector.
Overall, the focus on thorough analysis and collaborative efforts suggests a hopeful outlook for the future of medicinal cannabis in Fiji, potentially leading to positive social and economic transformations.
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