Beautiful Virgin Islands

Wednesday, Apr 02, 2025

BVI losing revenue waiting on governor to assent cannabis law

BVI losing revenue waiting on governor to assent cannabis law

Premier Andrew Fahie said the BVI is losing significant revenue as it waits for Governor Augustus Jaspert to give assent to the Cannabis Licensing Act, which was passed in the House Of Assembly in July of this year.

The Cannabis Licensing Act sets the framework for the establishment of a medical marijuana industry in the BVI.

In an interview with 284 Media, Premier Fahie said the government was expecting to earn millions this year as many people would have found jobs in the medical cannabis industry.

“I could only say that if it was passed already we would have already been able to move towards having the three months crop – because the planting of it takes three months and we would have already moved towards over one hundred jobs and we would have already moved towards at least a couple millions of dollars in our economy,” Premier Fahie said.

He continued: “We are gonna wait till it is assented to. It has pushed us a little behind with that industry with the revenue that we had already projected for this year.”

The BVI constitution doesn’t demand that the governor give assent to any law within a specified timeframe.

In his interview on Friday, Premier Fahie said this is an area in the constitution that the government is seeking to change.

“It is one of the areas in our constitutional review that we have to ensure that we strengthen in the best interest of the people of the Virgin Islands,” Premier Fahie said.

He said once the bill is assented, a commission will be set up to regulate the industry and set guidelines for locals who want to participate.

Partnership with big investor


Premier Fahie also said the government is working with an investor who is expected to help the BVI tap into the export market. However he refused to name the investor.

“I wouldn’t release the investor’s name right now, but when the time comes we’ll let them know. All I can say is that the investor will be known, it’s not a secret, it’s a reputable person that has come and helped us move in this direction with the industry, ” Premier Fahie said.

Earlier in September, BVI News sought to determine whether the Governor had any specific problems with the bill that could cause any delay in its assent. The Governor’s office responded: “He’s currently considering it [and] has yet to grant assent.”

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Europe Pursues Digital Autonomy Amidst Transatlantic Strains
OpenAI Lands Unprecedented $40 Billion Funding.
Charity Chairwoman Accuses Prince Harry of Bullying and Harassment
DOGE revealed that USAID provided $84 million to the Clinton Foundation. Of this amount, $3 million was spent on Chelsea Clinton's wedding, and $10 million was used to acquire a lavish mansion.
The State Department has announced the formal closure of USAID.
Apple's Innovation Deficit: Falling Behind in AI and Foldable Technology as Chinese Developments Progress
President Trump Proposes Military Intervention to Obtain Greenland
Passenger Taken into Custody After Engaging in Masturbation on SWISS Air Flight
Barcelona player Dani Alves found not guilty of rape accusations.
PUTIN'S LIMOUSINE DETONATES—SECURITY CHAOS ENSUES
French Foreign Ministry Denounces U.S. Interference in Corporate Diversity Initiatives
Copyright Issues Emerge as AI-Generated Studio Ghibli Images Gain Popularity
This is what we refer to as CREATIVITY.
Removing the Political Opponent Means Dismissing the Remnants of Turkey's Economy.
Malaysia Strengthens Semiconductor Regulations in Response to U.S. Pressure to Restrict AI NVIDIA Chip Exports to China.
OpenAI Launches New Image Generation Tool for ChatGPT
Ex-FIFA President and French Football Icon Acquitted of Corruption Allegations
National Security Advisor Mike Waltz Under Investigation After Journalist Added to Secret Military Chat
Ex-Business Partner of Hunter Biden Discusses Possible Pardon from President Trump
U.S. Attorney General Announces Task Force to Prosecute Government Fraud
American Brands Face Consumer Boycott in Europe Amid Escalating Trade and Political Tensions
White House Investigates Security Breach After Journalist Accidentally Added to Secret Yemen Strike Chat
Samsung Executive Han Jong-hee Dies Suddenly Amid Ongoing Corporate Challenges
German President Frank-Walter Steinmeier has just signed off on a national debt hike to fast-track Germany’s militarization
Heathrow Airport Restarts Services as Investigation into Power Outage Commences
Pope Francis Released from Hospital Following Pneumonia Treatment
Pope Francis Appears in Public for the First Time in Five Weeks After His Hospital Stay
Usha Vance to Head U.S. Delegation During Greenland Visit Amid Discussions on Annexation
Trump suggests US could join British Commonwealth if offered by King Charles
Elon Musk Files Lawsuit Against Jamaal Bowman for Defamatory Remarks
European Countries to Boost Defense Expenditures in Response to Changes in U.S. Assistance
Iconic Boxer George Foreman Dies at 76
European Airline Shares Fall Following Disruption from Heathrow Power Outage
Pope Francis Set to Leave Hospital Following Recovery from Pneumonia
Thousands Take to the Streets in Amsterdam to Protest Racism and Fascism
Revealing the Electromagnetic Characteristics of the Great Pyramid of Giza
President Trump Cancels Security Clearances for Notable Political Figures.
The Development of China's Automotive Sector
Netanyahu Dismisses Shin Bet Chief Amid 'Loss of Trust' and 'Qatargate' Corruption Investigations Involving Netanyahu's Advisors
UK Conservatives Remain Optimistic Despite Polling Challenges
Labour MPs Unveil Initiative to Combat Harmful Influencers and Advocate for Healthy Masculinity
Miami Beach Mayor Cancels Plan to Expel Cinema Following Documentary Showing
Thousands of Drones Illuminate the Sky in Honor of Trump.
Leaders of the US and Ukraine Participate in Constructive Call During Ongoing Conflict
Elon Musk's X Experiences Valuation Recovery to $44 billion.
UK Government Set to Implement Major Budget Cuts in Spring Statement
US Federal Reserve Downgrades Economic Growth Outlook Due to Tariff Uncertainty
EU Claims US Tech Giants Have Violated Digital Regulations
Canada Denounces the Execution of Its Citizens in China Amid Rising Tensions
European Union Moves Toward Joint Debt for Military Spending
×