Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Up In Smoke? Penn Says Medical Marijuana Sounds Sexy, But Not Profitable

Up In Smoke? Penn Says Medical Marijuana Sounds Sexy, But Not Profitable

While the Government is touting that the medical marijuana is a part of the suite of economic diversification strategies; the Opposition has stated that the industry is not going to be very profitable.
The apprehension was disclosed to the media by Leader of the Opposition Hon. Marlon Penn during a press conference that was held on December 16.

Hon. Penn said, “The issue of medical marijuana - it sounds good, its sexy and it’s a good term. St Vincent is doing it, Jamaica is doing it, St Thomas is doing it. When you look at the dollars and sense there is no real revenue being earned from these Territories with medical marijuana to date and they have been at it much longer than we have; to the point now where St Thomas is even thinking of doing it for recreational use. They realize for it to be viable they have to expand on what they are doing.”

The Opposition Leader added, “We have to have a strategic vision for how we want to move the country and the economy forward not these old pie in the sky dreams. The old fancy clichés - we going green, we going this and that, without the numbers to back up what it means to us as a Territory," Hon. Penn stated.

According to the Opposition Leader, a number of new projects are not properly financed.

"We’re talking about going green and all these fancy things with medical marijuana but there is no money in agriculture to do anything to barely pay the staff let alone expand medical marijuana. There is no money in the Premier’s Office for any of these special projects to do all these things that we’re talking about,” Hon. Penn stated.

Government is projecting to rake in $5M from medical marijuana.

Premier and Minister for Finance Hon. Andrew Fahie disclosed that north American companies have presented interest in the Territory’s medical marijuana industry and 40 farmers are expected to be trained as the Territory.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×