In a recent intervention at Cannabis Europa Toronto, Lyndon Farnham, Jersey’s Minister of Economic Development, Tourism, Sport and Culture, opened the floodgates for medical cannabis cultivation on the island. In particular, the latter has sold the ability to strictly regulate industries on the island, such as its banking sector, and its long agricultural tradition
“The Jersey government intends to be at the forefront of the emerging cannabis market in Europe,” he said. “And I can assure you that our government will contribute to a responsible, well-regulated, reliable and efficient industry. Just as it has already done in the area of banking and financial services around the world. »
He added: “We know that it is incumbent on governments and companies to work together to promote the fact that a well-regulated medical cannabis industry . Basically, the key here is “well regulated” – can absolutely be the catalyst for the greatest opportunity in terms of well-being and health in a generation.
In addition,Jersey is well-positioned to be part of a new industry based on drug distribution, scientific innovation, high value-added agriculture, intellectual property creation, and global regulation. We have the experience, the infrastructure and, of course, the entrepreneurial spirit. »
The senator went on to say that investor interest has been growing since Jersey issued its first CBD cannabis cultivation licenses to make CBD oil from hemp flowers earlier this year.
“To date, we have companies that grow hemp to use the uncontrolled parts of the plant as seed and fiber. We have ,also,companies authorized to grow hemp and use flowers for CBD extraction. Besides,many local companies have sought licenses to grow THC-rich cannabis for medical use. So,i can say that we intend to issue the first licenses for cannabis with a high THC content in early 2020. »