Government is projecting to make at least $30 million annually from the medicinal marijuana industry.
Premier Fahie gave that indication in the House of Assembly on Monday, June 22, while responding to public criticism that government “wants to make everybody high” from the drug.
But Premier Fahie informed the House that the BVI only plans to harvest the non-psychoactive properties of the plant.
“It’s a specific strain that we’re going to be growing to export. Could you imagine little BVI exporting and have an opportunity to make a minimum, if we do it right, $30 million? And that’s being very conservative from our projections,” the Premier said.
Responding to subsequent questions from our news centre, Premier Fahie further stated: “That’s a projection annually once we set up the industry in a timely manner and with accountable measures, as is the current trend by government.”
These measures will be outlined in the Cannabis Licensing Act of 2020 which has already appeared on the House of Assembly’s official schedule known as the order paper. The legislation will allow for medical marijuana to be produced and sold locally.
Approximately 100 Virgin Islanders will each receive a plot of land from government for the cultivation and production of medicinally-purposed marijuana in Paraquita Bay, Tortola.
“We have the opportunity to create a minimum of 100 jobs because we are gonna aim for the 50 acres of land and cut them up into half acres,” Fahie said.
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