The Premier made the statement during yesterday’s November 11, 2021, 2022 budget presentation under the topic of 'Developing Business and Opportunities,' in direct reference to the VI’s stalled medical marijuana industry at the hands of the UK and the Governor.

Industry thriving globally - Premier

“Legal and regulated marijuana industries have already proven to have provided economic benefits and stimulation to several jurisdictions,” he said.

Although the VI 'Medicinal Cannabis Licensing Act, 2020' was passed with amendments on June 30, 2020, in the Virgin Islands House of Assembly (HoA), the bill is yet to become law until it is assented to by the Governor of the Virgin Islands (VI).

Then-Governor Augustus J.U. Jaspert aka 'Gus' had blamed bureaucracy for the hold up of bills; however, he constantly dodged questions on the exact reasons for his refusal to make the Cannabis Act law ahead of his announcement of a Commission of Inquiry into governance in the VI.

The VI 'Medicinal Cannabis Licensing Act, 2020' essentially paves the way for the territory to establish its own medicinal marijuana industry through the cultivation of special strains of cannabis on local farmlands by local marijuana farmers.

The Premier made the statement during today’s November 11, 2021, 2022 budget presentation under the topic of 'Developing Business and Opportunities,' in direct reference to the VI’s stalled medicinal marijuana industry at the hands of the UK and Governor.

Industry projected to reach $57B by 2027

Honourable Fahie indicated that the global medical marijuana industry is projected to grow from its current value of $9.2 billion to $57 billion by 2027.

‘We were ahead of the game when we passed that legislation in this Honorable House and we may have been delayed but with God’s help we will not be denied,” he said.

Premier Fahie reminded that the people of the Virgin Islands can benefit immensely if they can participate in this industry.

“Your government is working with the UK Foreign and Commonwealth Development Office (FCDO) to address the various issues that are holding back assent to the legislation for the Virgin Islands to establish our medical marijuana industry,” he said.