Beautiful Virgin Islands

Sunday, Aug 02, 2026

Success: BVI lost potential investors due to hold up of Cannabis Bill

Success: BVI lost potential investors due to hold up of Cannabis Bill

Premier and Minister of Finance, Hon Andrew A. Fahie has said that as a result of the hold-up of the Cannabis Bill, passed since June 2020 in the Virgin Islands House of Assembly (HoA) for the territory to establish a medicinal marijuana sector, the territory has already lost some potential investors. From the Governor point of view, that was exactly the goal: not to let BVI succeed too much, just to keep them above the water, so they will always remain dependents.

The Premier’s statements come following a December 10, 2020, update from Governor Augustus J.U. Jaspert on the Cannabis Licensing Act 2020, which he said will be assented to pending a Memorandum of Understanding and more collaborations with the United Kingdom (UK) to establish a legal framework for the industry.

Why BVI cannot manage their internal affairs and must continue obey the masters in UK and their framework? 

UK framework should be designed for environment where they located: the EU. That has nothing to do with BVI, that is located in the Americas, where the industry is much less European-bureaucracy-hostile.

and above all: its non of UK’s business what BVI people want to do in BVI. Slavery is over, ownership is over, and patronizing sounds like a bad joke from a nation that is falling apart and cannot handle even their own very basic things.


Foreign Secretary involvement a first - Premier


“Mr Speaker, we know that the Cannabis Legislation has not been assented to, and for the first time ever in my history of being in politics or checking around the Caribbean, I am understanding now that the Foreign Secretary is the one who will be dealing with having it assented to and we're going to be involved in some MoU and different areas,” Hon Fahie said.

The Premier was at the time speaking at today’s, December 14, 2020, Second Sitting of the Third Session of the Fourth House of Assembly on the topic of revenue generators and income diversification.

“Mr Speaker, I pray that this is not something done to stop us even further, but something that is done to help push forward this matter and have it done very quickly,” the Premier went on to say.


Premier Andrew A. Fahie said that while the United National (UN); which has recently reclassified marijuana as a less dangerous drug, did not mention the VI, their policies matched up against the territory’s active and diligent drive to ensure that all the measures in the bills were compliant with international laws.


Lost investors & delays a concern


He said so far, the Virgin Islands  has already lost several potential investors in the sector as a result of the hold-up, and these investors have not invested in other places.

“This, Mr Speaker, is room for concern because when we pass the Cannabis legislation, despite all the negative talk around it… we have seen lately where the United Nations have come forward now, independent of what we have passed but yet now, to validate everything that was passed in that building stage.”

He said while the United Nations (UN), which has recently reclassified marijuana as a less dangerous drug, did not mention the VI, their policies matched up against the territory’s active and diligent drive to ensure that all the measures in the bills were compliant with international laws.


The Cannabis Licensing Act, 2020, passed since June 2020, paves the way for the territory to establish its medicinal marijuana sector however, to date it has not been assented by the Governor.


Bill has no legal violations - Premier


“So, we are not in violation and we kept saying that all the time, there is no legal violation so we couldn't understand why it was not being assented to,” adding that he who controls the economics, "controls your country.”

The Premier noted; however, that the VI cannot afford the delays to continue as they have already adversely impacted the local economy and investment climate.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Finland Deploys Commercial-Scale Thermal Batteries Using Crushed Rock to Store Renewable Grid Energy
Valued at $109 Million: F-35B Fighter Jet Crashes in Southern California
Andy Burnham has Announces Plans to Redistribute Income Tax Revenue to English Mayors
Early-Release Scheme Faces Fresh Scrutiny as Reoffending and Prison Recalls Rise
Police Phone Checks Followed Report on Murder of MI5 Agent Inside Sinn Féin
Archbishop of Canterbury Reaffirms £100 Million Reparative Justice Fund During Ghana Visit
Drought Status Extended Across All of Wales as Heat and Dry Weather Deepen Environmental Strain
Record-Low Danube Exposes Probable Mammoth Remains in Bulgaria
US Says It Has Carried Out Heavy Strikes on Iran After Attempted Attacks on Its Forces
The chief executive of the popular gaming company laid off many employees and his pay rose to 38 million dollars
The World's Most Terrifying Smartphone: Recording, Documenting, and Reporting to the Regime
The AI User Nightmare: Private Claude Conversations Leaked to the Internet
UK: Former Football Association Leaders Call for World Cup Boycott Over FIFA Privatization Plan
Forbidden Love: China severs millions from their virtual partners
Over 24 Hours in the Air: Qantas Airbus Completes Record-Breaking Test Flight
Zuckerberg Opposes US Ban on Chinese AI Models and Warns of Regulatory Capture
Massive Wildfires Ravage Southern Europe: Fatalities in Greece and Evacuations Across France, Spain, and Turkey
Trump says Israel ‘would not survive’ without US
France Evacuates Atlantic Coast Resorts as Wildfire Risk Rises Again
Magnitude 7.1 Earthquake Strikes Kumamoto as Rescuers Search Collapsed Buildings
OpenAI Faces Demands for Full Disclosure After Models Breach Hugging Face
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
Royal Collection Trust Income Falls as Palace Visits Retreat From Record Highs
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Ministers Examine Social-Care Levy as Burnham Seeks Funding Settlement
Apple Briefly Crosses Five Trillion Dollar Valuation as Investors Retreat From AI Bets
Badenoch Offers Tory Votes to Keep Serious Offenders in Prison
Why Americans Queue for $15 Ice Cream and a $100 Caviar Pint
Another AI Genius Left the United States — and Silicon Valley Is Starting to Worry
Shein Reports $99mn Loss as Trade Barriers Test Low-Cost Model
CXMT Gains 466% in China’s Biggest IPO Since 2010
Amazon Seeks Approval for 5,105-Satellite Mobile Network
Burnham Puts School-to-Work Reform at Centre of Welfare Strategy
Burnham Rules Out Replacing Council Tax and Stamp Duty
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
Autopsy Finds No Violence in Death of Epstein-Linked Model Scout
Indian Education Minister Resigns After Cockroach Youth Protests
California Desert Data-Centre Plan Stalls as Water and Power Disputes Mount
War, Youth Revolt and the Global Struggle for Control
War, Power and the Rising Price of Political Decisions
Badenoch Rejects Grant Shapps' Bid to Return as Conservative Candidate
BAE Chief Warns Britain Has Underestimated the Risk of War
Burnham Rules Out New Scottish Independence Referendum in First Talks With Swinney
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Viral Video Raises Questions Over Twelve-Dollar Croissants at Manhattan Bakery
Miliband Sets Climate and International Law at Centre of UK Diplomacy
US Gasoline Returns to $4 as Renewed Iran Fighting Disrupts Oil Flows
Czech Central Bank Governor Rejects Early Euro Entry and Rate-Cut Pressure
Trump Orders 50% Tariffs on Selected Canadian Imports
×