Katelyn Baker
Well-Known Member
The Cannabis Licensing Authority (CLA) has received over 200 applications from interested investors to date, minister without portfolio in the Ministry of Economic Growth and Job Creation, Daryl Vaz, has disclosed.
Speaking in the House of Representatives on Tuesday, Vaz noted that in 2015, Forbes magazine reported that up to US$1.9 billion worth of cannabis was sold in the United States for medical use, adding that this is expected to climb to US$8 billion by 2018.
He said there is room for innovators and investors to establish medical dispensaries, legal recreational retailers, edible and infused products, hemp products and various spin-offs such as financial services for cannabis businesses, transport and security, and consulting services for setting up businesses.
"With the establishment of the Cannabis Licensing Authority, we may now have one of the best opportunities to enter huge new markets for start-ups," he said.
The CLA was established to regulate the local cannabis industry.
The authority has powers to make regulations for the procedures and criteria for applying for licences and permits, as well as other authorisations for cultivation, processing, distribution, sale and other handling of ganja for medicinal, scientific and therapeutic purposes.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: More Than 200 Investors Apply For Ganja Licence
Author: Staff
Contact: 876-926-7655
Photo Credit: None Found
Website: Jamaica Observer
Speaking in the House of Representatives on Tuesday, Vaz noted that in 2015, Forbes magazine reported that up to US$1.9 billion worth of cannabis was sold in the United States for medical use, adding that this is expected to climb to US$8 billion by 2018.
He said there is room for innovators and investors to establish medical dispensaries, legal recreational retailers, edible and infused products, hemp products and various spin-offs such as financial services for cannabis businesses, transport and security, and consulting services for setting up businesses.
"With the establishment of the Cannabis Licensing Authority, we may now have one of the best opportunities to enter huge new markets for start-ups," he said.
The CLA was established to regulate the local cannabis industry.
The authority has powers to make regulations for the procedures and criteria for applying for licences and permits, as well as other authorisations for cultivation, processing, distribution, sale and other handling of ganja for medicinal, scientific and therapeutic purposes.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: More Than 200 Investors Apply For Ganja Licence
Author: Staff
Contact: 876-926-7655
Photo Credit: None Found
Website: Jamaica Observer
