Thanks to heavy lobbying from pro-cannabis groups, Thailand is now offering medical marijuana to patients. This is how it will affect you – and your wallet…
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At the end of 2018, Thailand‘s military government approved the use of cannabis for medical purposes.
It was a big step, and things are moving fast.
The country plans to distribute roughly 10,000 bottles of cannabis oil to hospital patients. By 2020, Thailand’s Government Pharmaceutical Organization (GPO) wants to produce between 150,000-200,000 bottles of cannabis oil.
More countries reforming cannabis laws will help push the global market to a projected value of $66 billion by 2025.
However, for cannabis executives who want to buy their way into Asia through Thailand, they’re going to have to wait. For five years, foreign investors are prohibited. To start off, Thailand wants to build up a system without having to rely on money from outside sources.
Now, part of the reason why government officials were willing to legalize medical marijuana is because of the economic boost it could provide. One of Thailand’s main industries is agriculture, which accounted for about 10% of the country’s GDP in 2016.
But there’s a bigger story here.
You Can’t Ignore the Will of the People
Since 2014, the military junta in Thailand has arrested and detained politicians, banned political gatherings, and has even imposed nationwide curfews.
Right now, everything still has to be approved by King Maha Vajiralongkorn.
But here’s the thing…
Even with all of that going on, this is a country that legalized medical cannabis. Again, the government understands that it can make money from growing the plant.
However, this was a movement spurred by the people of Thailand.
Thanks to heavy lobbying from pro-cannabis groups, a country in a region with one of the harshest drug policies in the world is now providing cannabis to its people. That’s a story to keep in mind for Canada and the United States.
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Cannabis is truly an economic opportunity that is made possible by ordinary men and woman standing up and demanding access to a medical treatment.
When my staff talked with IPO Expert Danny Brody, one of the things he shared was his belief that one of the reasons Justin Trudeau became Prime Minister was because of his pro-marijuana plans.
In the U.S., you can bet that the politicians have watched that closely.
Of course, as we’ve seen in the short term, there are going to be some bumps along the road.
There will also be companies not playing by the rules like CannTrust Holdings (NYSE: CTST), which has put a negative light on the industry. I’ll have a full report about CannTrust later this week.
However, I know many of you say you view cannabis as a long-term investment, and if you really do, think about where we’re headed.
Some of the smartest people out there are pouring their money into cannabis, and the tough and patient traders are going to be rewarded.
Just stick with it, and I’ll be here to navigate you through it all.
Executive Director, National Institute for Cannabis Investors
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6 responses to “The Big Story Behind Thailand’s Medical Cannabis Legalization”
August 05 2019