BVI News

Gov’t swaps land with HLSCC to ‘facilitate establishment of medical marijuana industry’

Stock image of a marijuana farm

Following a recent announcement that government will be drafting laws to facilitate “the production and sale of medical marijuana”, Premier Andrew Faie has said steps are already being taken to roll out the local production aspect of the business.

He said: “A land swap was performed with the H Lavity Stoutt Community College to facilitate the establishment of the medical marijuana industry.”

“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,” Fahie said while delivering his Budget Address for the upcoming 2020 fiscal year.

The Premier further told the House of Assembly that, come 2020, the government “will continue the infrastructural recovery of agricultural stations and take significant steps towards establishing the medical marijuana industry”.

Economic stimulant 

Fahie, who is also the Minister for Finance, is projecting “potential medium to long-term economic impact” from medicinal marijuana as well as medical schools.

“These initiatives are expected to lead to increased 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,” he reasoned.

Premier Fahie said he believes economic growth and expansion can be easily predicted once the BVI begins to yield good results from the medical marijuana industry. 

There have been several calls over the years for the BVI to relax its marijuana laws and consider cashing-in on the multimillion-dollar industry. 

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29 Comments

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  1. Kingfish says:

    This is nothing more than a pipe dream, do you know how many countries want to get involved in medical marijuana, there will be an over supply of the products which will lead to very low prices making the venture worthless. Use the land to grow food which the citizens of VI need on a daily basis.

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    • @Kingfish says:

      Exactly!! I’m not sure why people are thinking growing marijuana is so different to growing anything else? We simply cannot compete on a volume basis which is why we don’t grow bananas and other crops trying to compete with others. I’m all for the medical marijuana and whatever else but to think the BVI will make millions from growing marijuana you must be kidding. However, this may be part of a bigger scheme involving some BIG BIG fish so let’s stay tuned. More in the mortar as usual…………….

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    • @ Kingfish says:

      You’re a person of sound thinking. Just recently I heard the manager of a well established local business in an interview on one of our local radio stations. If I’m not mistaking, he mentioned the fact that sometime during next year, global shipping costs will be through the roof and he was also wondering why our Government hasn’t mentioned it as yet, or at least try to put things in place to help our country when this happens. It’s all well and good to talk about the seemingly overrated medical marijuana pillar, but when we can’t afford to buy food in the supermarkets anymore, can we survive off of marijuana? As the saying goes, where there is no vision, the people will perish.

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    • Smith says:

      That’s the problem we have in the bvi we think small and only when some one else think on a idea it can’t work ..how many island depending on tourist and the big is doing really good

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    • Sky High says:

      How could the value of medical weed in the Caribbean alone be worth $2 billion? The population of the Caribbean is only 40 million. What percentage of our population is diagnosed with medical issues that require this treatment?

      Did the govt just trade our college for a pot farm?

      Our future is going up in smoke.

      If we are interested in getting involved in medical treatments there are other more constructive things we could do. For example, why not provide tax incentives to drug manufacturers to relocate here? Why not convert the College into chemical labs where our people can learn useful sciences?

    • Wow says:

      Imagine Alkebukan Minds Recycling Inc has been behind government for months with a realistic solution for the waste that we are financing and they will be getting a fractions creating endless jobs an our an end to they garbage confusion and as a local registered Cooperation it’s disrespectful of government prolonging the vibes

    • Strrruppss says:

      Hemp can replace plastic, hemp can replace chicken, meat, fish, it can replace concrete, it can replace paper. Use yall brains instead focusing on the medicinal uses

  2. Smoke and mirrors says:

    Great America has tried this and the industry isn’t making any profit beacuse of soo much supply. Which drives the market down.

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    • Mile High City says:

      Actually, Colorado, the first state to go legal, has made more money from marijuana they was ever anticipated and continues to do so. The schools all reaped the benefits.

      • Yup says:

        Missed that boat despite having plenty chances to be first to the market because we’re too busy busting people for tiny amounts of weed.

  3. Weed Man says:

    Getting high in the BVI

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  4. YOUTH says:

    I strongly like this move. It will make a lot of money.

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  5. EU citizen says:

    From money laundering to drug dealing…
    Grow food.

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  6. Jane says:

    The focus should be on a “artisan” weed, authentic grown in the Caribbean sun. There will be an oversupply of weed and prices will be pushed down. They key will be to identify a USP and not try to compete with the mass market.

  7. marijuana says:

    I got a medical problem honest! 🙂

  8. mary jane says:

    this Idea is to be considered

  9. Just Saying says:

    When it comes to Medi weed its about quality not quantity it will bring the drug arrests in the BVI to almost none

  10. Curious says:

    why not just legalize it…recreational & medical. And add Hemp to the list while you’re at it so we could grow something that can produce the CBD Oils to use for medicine as well as for sustainable manufacturing, building, all kinds of things..

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  11. pathetic medic says:

    all we need is for the government to legalize it. there is already a weed trade in the bvi. folks grow it then sell it everyday without government intervention…except to lock us up

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  12. mmm says:

    That Colombian crippie that flooding the island is Colombian legally grown weed..exported here.How can you compete against that?

  13. Farmer says:

    Let’s Hurry do this thing what’s taking u so long other countries are developing tremendously and are showing off their Revenues Your not making a bad move on this at all trust me all the Researchers are speaking out world wide Do ur Researches

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  14. Diaspora says:

    If marijuana improves the health, reduce/prevent ailments, ease pain, improve the quality of life…….etc of BVI residents, it should be accessible and affordable to them. Producing marijuana seems like an opportunity for a myriad of countries, including the VI and its sister regional countries, to increase their revenue streams. The projected revenue stream for the Caribbean is approx $2B. The question is how much of this $2B will the VI be able to tap into?

    The VI will have to compete aggressively to command a profitable market share. However, the VI’s small size puts at a distinct disadvantage. The production cost of larger countries may be lower. To compete, the BVI have to differentiate itself through operational effectiveness and strategic positioning. It will have to produce marijuana different from other competitors or produce it similarly but in different ways. For example, increasing the yield per acre or producing a higher quality product.

    Moreover, has the VI slow start out of the box put it a competitive disadvantage? In addition to medicinal uses, other sister regional countries have laws permitting residents to possess small quantities for recreational use. Will the BVI do likewise? Will the BVI expunge the records of people who have been convicted for the possession of small quantity?

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  15. This is a Big Win says:

    The real benefit will come from our residents having access to THEIR OWN organic grown LOCAL herb,

    Tourist who can not fly or sail in with theirs,

    Tourist sampling world famous Caribbean herb,

    BETTER RELATIONSHIP WITH LOCALS & POLICE,

    More interest in agriculture on as a whole,

    A market for breeders to sell new seeds abroad,

    More relaxed vibe in the VI,

    More tourist willing to visit & spend,

    Cannabis cafes for non drinkers,

    People who need this as a medicine will grow it,

    More money in everyone’s pocket!

    WIN WIN WIN

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  16. The entire picture says:

    Small thinkers who think big on one aspect of a issue find shade in everything the government does. This will probably lead into a domino effect of MORE LOCALS being interested in ARGICULTURE on a whole, amongst other things of course. With the right mechanisms and legalities in place, this will prove more beneficial than the small thinkers would like to argue

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