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VI to begin establishing medicinal marijuana industry in 2020

- Premier Andrew A. Fahie said VI will be looking to tap into the lucrative industry
The Government of the Virgin Islands has announced plans to establish a medicinal marijuana industry in 2020. Photo: Internet Source
Premier and Minister for Finance Hon. Andrew A. Fahie (R1) said the medicinal marijuana industry will bring several benefits to the Virgin Islands. Photo: VINO/File
Premier and Minister for Finance Hon. Andrew A. Fahie (R1) said the medicinal marijuana industry will bring several benefits to the Virgin Islands. Photo: VINO/File
ROAD TOWN, Tortola, VI- After years of the Territory toying with the idea, Premier and Minister of Finance Hon Andrew A. Fahie (R1) has announced plans to begin establishing a medicinal marijuana industry in 2020.

“Medicinal marijuana in the Caribbean is projected to be worth $2 billion, and in Latin America, the market is estimated to be worth $14 billion. BVI is moving to tap into this industry and develop to generate millions of dollars in revenue,” Hon Fahie said during the Second Sitting of the Second Session of the Fourth House of Assembly on Tuesday, November 19, 2019.

He said in the New Year, “We will continue the infrastructural recovery of agricultural stations and take significant steps towards establishing the medical marijuana industry.” 

Benefits to VI

The Premier said the new niche would bring several benefits to the Virgin Islands.

“While focusing on green development, the potential medium to long-term economic impact from many planned policy changes and initiatives in the medical field such as medicinal marijuana and medical schools, infrastructural renewal and development, diversification within the tourism, financial and business services would only serve to further stimulate the economy.”

He explained that there would be an expected boost in revenue to Government, increased private sector activities, including increased employment opportunities, increased disposable income to individuals, and increased savings and investment levels in the economy.

“With the presence of the above positive, economic indicators, growth and expansion of our economy is an easily predicted result,” he said.

The Premier said the recent ‘land swap’ with the H. Lavity Stoutt Community College was to “facilitate the establishment of the medical marijuana industry.”

During his Speech from the Throne on November 14, 2019, His Excellency Governor Augustus J.U Jaspert said legislation was on the horizon for the production and sale of medicinal marijuana.

9 Responses to “VI to begin establishing medicinal marijuana industry in 2020”

  • Ok Then... (20/11/2019, 12:17) Like (1) Dislike (8) Reply
    Just note that the people who are now growing and selling medical marijuana elsewhere complain that they are NOT making any money.
  • Seriously (20/11/2019, 13:09) Like (2) Dislike (1) Reply
    where? where did you hear this? but the real money is in the recreational use.
  • b marley (20/11/2019, 15:23) Like (8) Dislike (0) Reply
    legal ize it
  • Hmmmn.. (20/11/2019, 18:37) Like (3) Dislike (1) Reply
    These people full of talk promises. Will ring the bells of praises when it happened... While they at it Include Casinos.... Anything can work once regulated...
  • thank god (21/11/2019, 09:14) Like (2) Dislike (1) Reply
    Babylon love to prohibit effective plant medicines.

    Yet harmful alcohol & tobacco are allowed. As they should be lest we create, once again, a new breed of criminal.

    Prohibition historically causes more crime & social problems than any other control measure. Gangsters galore.

    We walk past native psycho active power plants every day and no one cares.

    When we were made slaves and brought to a the Americas we lost lots of plant knowledge. Yet as a culture we still love all kinds of bush tea.

    Being arrested over a plant that god made & placed here for our benefit is super ridiculous.

    Educate people. Allow adults to be responsible for their own body.

    Love god first & second love your neighbor as you love yourself.

    As a christian society would we want our loved ones to be fined or sent to jail over a medicinal plant, as we sit back and sip our bush tea?

    Thank the UK for the recent message from the throne, & the new government leadership because when it comes to cannabis our previous leaders seemed scared and lacked the courage to move us forward.
  • old (21/11/2019, 19:58) Like (1) Dislike (0) Reply
    How is the queen ,she is god y we sing god save the queen , I hope she get save .
  • Yes Great. (22/11/2019, 22:52) Like (0) Dislike (0) Reply
    Its about time. While you're at it Include cbd oil too.

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