Cabinet gives the green light for cultivation of medical cannabis

The Cabinet has approved a bill concerning the cultivation and availability of medical cannabis in the Republic.

In statements after the meeting, chaired by President of the Republic Nicos Anastasiades, Health Minister George Pamborides said that the aim of the bill is to get international investors to express interest in the two licenses that will be given for the cultivation of medical cannabis in Cyprus, attracting capital and boosting the field of research and development in the pharmaceutical sector and industry.

He said it is an innovative bill which he hoped will be accepted by the House of Representatives so that Cyprus will soon have the legal framework required to attract this important investment for the island.

Answering questions, the minister said that expertise and know-how is required in this field, noting the government aims to attract foreign investments and create new job opportunities.

It is a significant development measure, he said, adding that some countries and not many throughout the world have adopted this practice. I believe that Cyprus can constitute a pioneer in the region due to the favourable weather conditions required to cultivate it, he noted.

The aim, he added, is to attract start ups, new business opportunities so that researchers will exploit the fact that cultivation will be legal for medical cannabis and become active in research programmes, a field that is very much needed in Cyprus.

Source: Cyprus News Agency