Business news

Search Our News Archive

Search
Health insurance

Thailand May Become the Worlds Powerhouse of Medical Marijuana

MEDICAL - Thailand
January 2019

Thailand is on the brink of becoming the first Southeast Asian nation to legalize medical marijuana, hoping to become a powerhouse in a globally exploding market. In the global rush to legalize marijuana, cannabis companies are looking for less expensive locations to mass-produce the cash crop. With its good growing climate and as a hub for shipping and medicine, Thailand is viewed as a suitable low-cost place to produce marijuana and then export it.

In October 2018 Thailand’s National Legislative Assembly proposed amendments to the Health Ministry that would legalize marijuana production and establish licenses for possession and distribution. Thai narcotics officials are telling their counterparts that the process to fully legalize marijuana for medical uses is expected by May 2019. 

Foreign firms, however, will have to wait as the government seeks to first award the rights to produce, extract and research the plant to Thai companies.

(Sources: Bloomberg; Chiang Rai Times)