An Australian firm, PharmOut, has been chosen to conduct a feasibility study focused on the Nutraceutical and Medicinal Cannabis industries in Fiji. This decision was announced during a recent Cabinet meeting that evaluated the Medicinal Cannabis Industry Feasibility Study Report.
Supported by the Australian Government and Market Development Facility, PharmOut’s study covers vital aspects, including economic and market feasibility, compliance with relevant laws and regulations, and examinations of pertinent case studies. Additionally, the report evaluates operational and financial viability, addressing logistics, investment conditions, and legislative guidance. It also assesses potential socio-economic benefits while highlighting risks such as illicit use and reputational challenges.
The Cabinet has taken a significant step forward by approving the drafting of legislation related to Medicinal Cannabis, which will be prepared in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
This initiative reflects positive progress towards developing a regulated medicinal cannabis industry in Fiji, with the potential to enhance the local economy and improve public health outcomes. It showcases a collaborative effort to ensure that Fiji can navigate the complexities involved in establishing a sustainable and beneficial medicinal cannabis sector.
In summary, the selection of PharmOut and the Cabinet’s subsequent actions mark a pivotal moment for Fiji as it explores the potential of the medicinal cannabis market, guided by careful research and legislative support.
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