Jamaica Moving to Take Advantage of Global Medical Cannabis Industry

By Caribbeannationalweekly.com

The Cannabis Licensing Authority (CLA) says it has issued 44 marijuana licenses and 288 conditional approvals since its establishment in 2015 as the island moves to capitalize on the multibillion-dollar global medical cannabis industry.

President of the Jamaica Promotions Corporation (JAMPRO), Diane Edwards, said that the licenses granted include 21 for cultivation, 13 for retail, six for processing, three for research and development, and one for transportation.

She noted that the licenses at the conditional approval stage are awaiting actions from applicants. “Some of those actions include readiness for pre-license, site inspection requirements, and funding to satisfy infrastructure development and/or other approvals,” Edwards said, adding that the CLA has received 658 applications from 287 applicants to date.

She told the media launch of the CanEx Jamaica Business Conference and Expo that Jamaica is poised to capitalize on the global medical cannabis industry.

“Medical cannabis is set to be a disrupter in the consumer goods space. More and more, we are finding CBD [Cannabidiol] infused products globally – in packaged food, beverages, beauty and personal care products and consumer health products,” she noted.

Edwards said that as the industry evolves “understanding the future and placing the appropriate bets will determine the ultimate winners of the expanding and dynamic space”.

She said JAMPRO was supportive of the CanEx conference and Expo to be held September 26-28, at the Montego Bay Convention Centre and praised the efforts of its founder, Douglas Gordon, for his commitment and contribution to the cannabis industry.

“JAMPRO supports conferences like CanEx, where, through consistent delivery of a high-value product you are able to attract world-class keynote speakers/presenters and subject matter experts and high caliber of participants who are serious about the growth and development of the cannabis industry in Jamaica,”  Edwards said.

The CanEx conference and Expo will event will feature experts from more than 30 countries as well as several international speakers and panelists, discussing a range of topics, including health, wellness, legal, regulatory, and investment opportunities in the cannabis industry.