Premier and Minister of Finance, Honourable Andrew A. Fahie (R1) has dispelled the notion that tapping into the medical marijuana industry would negatively affect the Territory’s vulnerable residents.
Addressing the issue at the close of the Budget debate on December 13, 2019, Premier Fahie said “We ain’t going to limit a soul. We are going to open up the BVI.
”It was recently announced by Hon Fahie that a number of Canadian and American companies have made presentations to the Government and that research has been done to indicate a specific strand of marijuana that can be grown in the Territory.
“No, we are not going to make the people high and make all their troubles go away. No, that is not the aim,” Premier Fahie said on December 13, 2019.
Multi-million dollar industry
The industry, according to Honourable Fahie, is expected to bring in millions to the Virgin Islands, with $5M revenue projected in the first year of production.
He said already a land swap has been organised with the H. Lavity Stoutt Community College to facilitate the production.
According to the 2020 report on the deliberations of the Standing Finance Committee (SFC) released on Thursday, December 19, 2019, some 40 farmers will be trained locally to capitalise on the sector.
Farmers will also be able to set up businesses as part of the initiative.
On the other hand, Opposition lawmakers locally are not as optimistic that the industry will generate the projected millions as the Premier is expecting.