Investors dropping out as cannabis legislation gets red tape from UK
Just a couple months ago, Premier Andrew Fahie announced his government was partnering with investors to develop the BVI’s germinating medical marijuana industry. Yesterday, the territory learnt that investor-interest was now dropping.
Premier Fahie said investors were dropping out because Governor Augustus Jaspert has not assented the Cannabis Licensing Act — legislation that sets the framework for the establishment of a medical marijuana industry in the BVI.
“We have seen that there are potential investors that we have lost due to the lapse in time and we understand that their interest have gone other places and this room for concern because when we pass the cannabis legislation,” Fahie said in the House of Assembly on Monday, December 14.
Governor Jaspert disclosed in a statement last week that before the legislation can be assented, the BVI must work with UK officials to establish into law, a Cannabis Authority that will monitor the local industry.
Governor Jaspert said this is something that the BVI government has to do with the UK Foreign Office, adding that this is now out of his control.
Premier Fahie has since said he hopes “this is not something done to stall us (the BVI) further but something that is done to help push forward this matter and have it done very quickly”.
“We were proactive and diligent that all the measures in the bill met what the United Nations stated and beyond so we are not in violation. And we kept saying that all the time. There is no legal violation so we couldn’t understand why it was not being assented to,” Fahie argued.
We don’t want BVI to be a burden to UK! Britain invites negotiations
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Because these so called interested parties never existed!
Exactly…
It was a pie in the sky, dreams and wishes. And besides, there can’t be a locally grown weed as it would interfere with the drug smuggling operations of the police and customs. Too many pockets would remain empty.
Carry on.
Foy provide a list of the list investors or zip yo mouth shut. We have heard nothin but l** from you. You expect anybody to believe you now. No!!
Its amazing how these investors have no name…
“We were proactive and diligent that all the measures in the bill met what the United Nations stated and beyond so we are not in violation. And we kept saying that all the time. There is no legal violation so we couldn’t understand why it was not being assented to,” Fahie argued.
Really Boss? You don’t know why it was not assented to? Lets see…the Governor was within his constitutional rights not to do so… the UK saw the rat in the making… we are not aware of who the investors are (please let us know)… a number of safeguards needs implementing…
Look deep and you will realize.
The UN wants transparency.
Man every time he talks about this s**t I pass out laughing.
The reason why the VIP is getting NOWHERE is because the Premier has always been very good at politicking and never stopped to realize that winning an election is one thing, but MANAGING and EXECUTING are two different animals, hence the constant bull-s**ttery that we have to deal with on a regular basis. It is easy to sing songs and talk s**t on the campaign trail but you can no longer hide behind these things when the people need RESULTS! Now that most things have gone south they are now patching roads everywhere, boarding up sites making it seem as if progress is on the way, again, just smoke and mirrors. If the Premier was as smart as he think he was, we would not have been here talking about why this hasn’t been assented. Do your homework and always be ready for anything. The Governor is playing Chess while the Premier is playing chutes and ladders, no comparison!
I think investing in LOCAL AGRICULTURE WOULD DO GREAT FOR THE BVI AND THE ECONOMY. GROW AND START EXPORTING WHAT WE GROW.
Thank you government for messing up this good opportunity for me !! Damn Fools y’all be!!
Good
Did he really say what is reported or did
he speak English?
It’s hard to know. Could be the “journalists” struggling.
There are potential investors, and some of them don’t want to be mentioned especially without the legislation being passed first. It is very hard to do business in the BVI, this is why potential investors leave. Everyone is looking for information about other people’s businesses whether it concerns them or not. It’s much easier to do business elsewhere. And this is why the BVI is being left behind in this millennium. Look all around you, see the other small island countries, they’ve done what they needed to do. 2 hurricanes later and you guys are still trying to get up off the floor. You can do better, you’re well positioned for economic riches if you would be smart about business, industry & investment. Investors monitor your news media. You’re not some secret on a map anymore, the world was made smaller this millennium and the whole world sees you. This is just my point of view as a visitor who had business interests but came to see it’s not worth the effort, especially when other island countries make it so much easier despite their own local issues.
Considerably, the article is really the finest on this worthwhile topic. https://www.heffinance.com/cannabis-finance.php