Thursday, October 22, 2020

Prime Minister Minnis: Government to review legalization of a hemp industry

 

ZNS Bahamas

The Government will review the possible legalization of a hemp industry that would include variations of cannabis low in THC, Prime Minister the Most Hon. Dr. Hubert Minnis announced today in the House of Assembly. The Prime Minister was speaking as he tabled the Executive Summary Report submitted by the Economic Recovery Committee (ERC). The Committee has proposed a broad range of reforms and recommendations intended to seed new industries and economic opportunities to expand existing ones; make The Bahamas more attractive for domestic and international investment; and to make certain bureaucratic systems more efficient and less burdensome for citizens and businesses.

“Our cannabis laws are outdated and must change,” Prime Minister Minnis said. “The global legal cannabis market is already in the billions of dollars with significant projected growth in the years to come.” The Prime Minister said Bahamian-owned or majority Bahamian-owned companies must and will lead any new hemp industry in The Bahamas. Hemp is used in multiple products, from clothing to building materials and even in tea bags, such as Lipton’s tea bags, Prime Minister Minnis noted.  Read more >>