The Cabinet has reviewed the Feasibility Study Report on the Medicinal Cannabis Industry and has given the green light for the drafting of associated legislation. This process will involve consultations with the Office of the Solicitor-General and the Ministry of Health and Medical Services to ensure comprehensive and compliant legislation.
In partnership with the Australian Government and the Market Development Facility, PharmOut, an Australian company, has been tasked with developing the feasibility study for Fiji’s Nutraceutical and Medicinal Cannabis Industries. This report outlines several critical aspects, including:
– An assessment of economic and market viability, evaluating relevant laws, regulations, and existing case studies.
– An examination of the operational and financial feasibility, focusing on logistics, legislative frameworks, and the investment landscape.
– Recommendations for legislative measures along with an evaluation of potential socio-economic benefits and impacts.
– A strategic analysis and risk assessment that addresses issues related to illicit use and the potential for reputational risk.
This initiative reflects a significant step towards embracing the medicinal cannabis sector in Fiji, indicating a move towards the potential economic benefits and health advancements that this industry can bring. By conducting thorough research and involving multiple stakeholders, the government aims to lay a solid foundation for a sustainable medicinal cannabis market that could positively impact both the economy and community health.
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