An Australian company, PharmOut, has been chosen to conduct a feasibility study for the Nutraceutical and Medicinal Cannabis industries in Fiji. This initiative, supported by the Australian Government and the Market Development Facility, was announced during a recent Cabinet meeting that addressed the Medicinal Cannabis Industry Feasibility Study Report.
The comprehensive report produced by PharmOut focuses on economic and market feasibility, along with a thorough examination of relevant laws, regulations, and applicable case studies. Additionally, it assesses the operational and financial viability of the industry, considering factors like logistics, investment climate, and the legislative framework. It emphasizes potential benefits and socio-economic impacts, while also addressing concerns such as the risks of illicit use and associated reputational issues.
Following the report’s insights, Cabinet has also approved the development of legislation pertinent to Medicinal Cannabis, which will involve consultations with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
In summary, this initiative marks a significant step for Fiji, potentially positioning the country to explore new economic opportunities within the medicinal cannabis sector while ensuring the necessary legal and operational frameworks are in place. This advancement not only opens doors for economic growth but also demonstrates a commitment to responsible industry development, which could lead to various social and health benefits for the Fijian population.
This undertaking reflects the evolving global landscape of medicinal cannabis and its potential benefits, hinting at a hopeful future for Fiji in this burgeoning field.
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