The Cabinet has reviewed the feasibility study report on the Medicinal Cannabis industry and has given the green light for the drafting of corresponding legislation. This process will be conducted in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
In this initiative, the Australian Government and Market Development Facility have provided essential support, enabling the selection of PharmOut, an Australian company, to conduct a thorough feasibility assessment for the Nutraceutical and Medicinal Cannabis industries in Fiji.
PharmOut’s study has yielded an extensive report covering several key areas, including:
– Economic and market feasibility, along with thorough due diligence regarding applicable laws, regulations, and useful case studies.
– An evaluation of operational and financial viability, focusing on logistics, current legislation, and the investment environment.
– Recommendations on legislation and an analysis of potential benefits, as well as socio-economic impacts.
– Strategic analysis and a risk assessment, particularly concerning illicit use and reputation risks.
This progress indicates a significant step toward creating a regulated cannabis industry in Fiji, which could boost economic growth, improve healthcare access, and encourage responsible industry practices. As the country consults with legal and health authorities, the commitment to establishing a framework for medicinal cannabis could lead to enhanced wellness solutions for the population while fostering international partnerships.
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