Time is running out for Jamaica to seize the economic opportunity to develop an industrial cannabis sector in Jamaica, according to the nation's Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw, who believes that the industry could establish Jamaica as a global player in the cannabis sector if they get the ball rolling now.
"Time is not on our side," Shaw said during his presentation at the recent Agricultural Technology Symposium. Time is of the essence because many other countries are already entering the industry. Shaw warned that as the legalization of medicinal marijuana continues to spread across North America and around the world, the cannabis market is simultaneously growing and becoming saturated.
Shaw says the small number of cannabis production and processing licenses that the Jamaican government has already issued is not enough, and they need to expend their cultivation program sooner rather than later. He is currently working with Jamaica's Ministry of health and the Cannabis Licensing Authority "to move faster and more aggressively to get up to the level of world competition."
Securing that foothold now could ensure Jamaica's prosperity for the foreseeable future, Shaw argued, because getting into the cannabis industry sooner rather than later is the best way to achieve sustained levels of economic growth.