The government of St. Vincent and the Grenadines is on quest of exporting medicinal cannabis later this year.
Information about this came from Minister of Finance, Hon. Camillo Gonsalves as he presented the 2020 budget address in parliament on Monday.
Minister Gonsalves stated that last year’s budget, the government of St. Vincent and the Grenadines enacted the necessary legislative framework to establish a well regulated and export oriented medicinal industry.
The medicinal cannabis authority received 280 license applications to date which include; 25 foreign investors, 7 local investors, 26 local cultivators, 210 traditional cultivators and12 traditional cultivators cooperatives.
The Finance Minister also stated that a total of 70 applications have been approved to date including those of 10 local farmers cooperatives, and 18 regional and international companies.
Ten local farmers’ cooperatives have a membership of over 1 hundred and forty traditional cultivators.