Back in 2017, not long after Catalonia officially legalized marijuana, Greece officially legalized medical-grade cannabis. During a conference on June 30, Prime Minister Alexis Tsipras and Health Minister Andreas Xanthos revealed the big change to Greece’s Law on Control of Drugs and described this change as a promising new front for their country. Now, over one year later, the beautiful nation took a new step by issuing its first two medical marijuana cultivation licenses to two companies called Biomecann and Bioprocann. Now, both companies can start growing private batches of the plant and create a string of new career opportunities and open the floodgates for domestic and international investments. From here, Greece plans to issue 12 more licenses at the end of 2018. Let’s take a closer look at this current situation and find out more.
More Licenses to Come
As of now, Biomecann (Larisa, in central Greece) and Bioprocann (Corinth) are the first two private cultivators to receive these medical marijuana cultivation licenses. However, by the end of 2018, Greek officials hope to distribute 12 additional licenses to more companies. According to sources, these licenses will be good for a total of five years, and all 14 cultivators will serve as a united representation of $212 million USD (spawning over 750 new jobs).
As stated before, medical cannabis patients have had access to their lifesaving medication since 2017, when Greece entered the race as the 6th member of the European Union to allow the drug. Later, Greece opened its doors to imported medical marijuana and reinstated its hemp industry. Even more fascinating, in March, the beautiful country allowed domestic cultivation and production of pot-infused products for medical use.
Attracting Foreign Markets
During the time it organized the framework for legislative and reformatory measures for its young marijuana industry, Greek officials initiated a string of high-profile events to attract members of foreign markets and investors. While other members of the European Union have beaten Greece to the punch in the cannabis race, Greece hopes to attract strong cultivation centers and attract foreign investors, ultimately improving their current economic problems.
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