An Australian company, PharmOut, has been appointed to conduct a feasibility study for the Nutraceutical and Medicinal Cannabis Industries in Fiji, supported by the Australian Government and Market Development Facility. This decision was made during a recent Cabinet meeting that reviewed the Medicinal Cannabis Industry Feasibility Study Report.
The comprehensive report provided by PharmOut addresses various aspects, including economic and market feasibility, as well as due diligence concerning pertinent laws, regulations, and relevant case studies. In addition, it evaluates the operational and financial viability of the industry, covering logistics, legislation, investment conditions, and potential socio-economic benefits.
Moreover, the report emphasizes the importance of risk assessment, addressing concerns related to illicit use and reputational risks associated with the Medicinal Cannabis sector. Following this assessment, the Cabinet has also endorsed the development of Medicinal Cannabis legislation, which will be crafted in collaboration with the Office of the Solicitor-General and the Ministry of Health and Medical Services.
This initiative marks a significant step for Fiji as it explores the potential benefits of medicinal cannabis, with a focus on proper regulations and frameworks that could not only enhance the healthcare system but also contribute positively to the economy.
In summary, PharmOut’s involvement and the subsequent government actions highlight a progressive approach to exploring new economic opportunities while ensuring the safety and legality of the Medicinal Cannabis sector in Fiji. This advancement could offer hope for improved health solutions and economic development in the region.
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