The small Caribbean island nation of St. Vincent and the Grenadines (SVG) recently passed legislation to decriminalize cannabis, Forbes reports.
St. Vincent is the largest island in the Grenadines, a chain of tiny islands in the Caribbean. SVG will be the first member of the Organization of Eastern Caribbean States to decriminalize cannabis, though other nation members of the alliance seek to decriminalize in the near future.
The island nation aims to become a global leader in medical cannabis research and production. The Caribbean climate is well suited to cultivation and, with the ending of outright prohibition, SVG is ready to begin developing a new cannabis economy, according to Minister of Agriculture Saboto Ceaser.
“The planning of this innovative industry has been carefully conducted over a long period in close consultation with the agricultural sector and many different stakeholders to reach the level of maturity we see today. There is broad recognition and buy-in of the economic benefits this tightly controlled and regulated industry is expected to bring regarding direct employment, the creation of support industries and foreign investment.” — Saboto Ceaser, Minister of Agriculture for St. Vincent and the Grenadines, via Forbes
Ceaser went on to say that SVG has already seen an increase in both regional and international “investor sentiment and inquiries.”
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