British Virgin Islands

Thursday, Jan 27, 2022

No recent dialogue with marijuana investor

No recent dialogue with marijuana investor

Premier Andrew Fahie said there’s been no recent dialogue with an investor who previously indicated an interest in the BVI‘s medical marijuana industry.
Premier Fahie was responding to questions about any progress made with the now-stalled Cannabis Licensing Act that was passed in the House of Assembly (HOA) more than a year ago.

Asked if the potential investor still remained in play, Premier Fahie responded: “I really can’t say because [with] these delays, you know, you lose investors. But what I can say? If it’s God‘s will, another one will come.”

He said his government’s job is to set up the necessary structures in an accountable and transparent manner so that the BVI’s people and its economy benefits from the sector.

“I’m confident that once we do that we will be able to attract; whether the investor comes back or [it’s] new investors. But our aim is to set it up in the best way possible,” he stated.

The Premier indicated that work is happening to have his government’s Cannabis Licensing Act untangled from the bureaucratic red tape imposed by the United Kingdom (UK). He said this is now possible through the establishment of working committees situated both in the United Kingdom (UK) and the BVI.

He told reporters that these committees are expected to report at the ministerial level once talks with the UK get underway.

The BVI’s Cannabis Licensing Act was denied assent by former governor, Augustus Jaspert, after he suggested that necessary safeguards such as a licensing body, were not in place to properly administer the sector once the law had been passed.

The bill was then sent to the UK’s Foreign Secretary for consideration, where it was expected to receive the attention of both UK and BVI officials.
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