Barbados: A Medical Cannabis Industry Seems Close to Launch, but Small Farmers Fear They’ll Be Left Behind
At a meeting, regulators hear worries that big international companies will dominate.
A similar bill failed in December amid debate over whether cannabis tax revenue should go toward saving the pension fund, or toward boosting other sectors, such as infrastructure and tourism.
With cannabis developments slowed by the COVID-19 pandemic, bureaucrats shift some regulations to boost the industry, such as export and online sales for patients.
But post COVID-19 pandemic, the nation still aims for growth in the industry.
Parliamentary meetings, regulatory rule setting, and investment summits are being postponed, slowing what had been steady progress in the region.
The government has also opened the door—part way—to banking licensed growers.
The National Commission on Marijuana, split on adult use legalization, puts the question to the public.
Lawmakers approved legislation to establish a Medicinal Cannabis Authority that would create licenses for everything from cultivation to consumption spaces.
While Saint Vincent expects a boost in cannabis revenue, US banking hurdles remain a major headache in the Caribbean.
Cannabis Wire reviewed a summary of the report sent to the prime minister that recommends both medical and adult use legalization.
The government wants to transition illegal cannabis growers into the legal industry, and to get exports underway.
The island will soon accept applications for medical cannabis cultivation licenses, but decriminalization will have to wait.
A decriminalization bill that also allows import, export, and business licenses is on the president’s desk.
After a marathon debate, lawmakers in the Caribbean’s largest economy pushed forward a bill that is likely to spark further reform in the region. Next: the Senate, possibly before the end of the year.
“It makes no sense to create wealth that will only increase economic inequality”—David Burt, premier of Bermuda
Laws are loosening and investors are interested, but who will reap the benefits?