Piece of cannabis industry for all, says Straughn

Minister in the Ministry of Finance Ryan Straughn says locals getting involved in the medicinal cannabis industry could aid in Barbados’ economic recovery.

Addressing a community meeting of his Barbados Labour Party (BLP) Christ Church East Central branch on Sunday night at the Deighton Griffith Secondary School, Straughn said broad-based participation in the medicinal cannabis industry and mobilizing the vast sums of money in the credit union system are ways of helping to restore the economy.

He said once Barbadians work together and acquire all the necessary expertise, they can build a successful medicinal cannabis industry instead of settling for the minimum 30 per cent shareholding which international companies are required to allocate for local investment.

“It is really up to all of us to look beyond the current circumstances that COVID has presented for us. I accept that, in the current environment, it is perhaps difficult for most people to be able to think about venturing into something new. But the reality is this is part of how we will be able to recover, which we anticipate with as broad-based participation as possible.

“And it may mean us, on the one hand, looking to determine how we create a new institution, domestically, that can deal with the financial hurdles that have been placed upon us purely on the basis of some of the regulations designed to make it harder for us to trade,” the Minister stated.

“But what is required is that as ordinary Barbadians, we avail ourselves of the information and we make the best possible choices that we believe are in our best interest,” he added.

Straughn therefore urged all residents to reach out to the Barbados Medicinal Licensing Authority, obtain the necessary information and have a discussion.

“There is a piece for everybody to participate in…and how we structure that with the creation of new potential instruments for persons to do so, I believe there is a way for us to finance this, so that ordinary Barbadians can participate,” the Straughn declared.
(EJ)