Medical Cannabis - A Greatest Opportunity To The Greece Economy
In the June month of the year 2017, Prime Minister Alexis Tsipras declared that medical marijuana is legal if you have a doctor's prescription. This news already suggested that it is going to change the ball game of the Greece economy. Even, it has come up as a boon for patients who need medical Cannabis for their treatment since its delivery is legal. Further, in March month of the same year, Parliament took the next crucial decision and approved a law for medical Cannabis Cultivation in Greece. By allowing cultivation and production of medical Cannabis mean that from now onwards, Cannabis could be deprecated from a Table A to Table B substance. And it will get acceptance as a useful drug to treat a plethora of medical conditions. However, cannabis-products will not be subsidized or supported by the state health plans. Greece successfully joined the race with the various other countries, including Germany, Britain, Denmark, and Italy that were allowing prescriptions for medical marijuana. Since Greece and Canada share many international interests and objectives, we can say that the Greece government got influenced by Canada. Since Cannabis Production is allowed in Canada the medicinal purposes since 2001, and in June 2018 it's recreational use is also legalized. However, earlier, there was a 90-year ban on Cannabis Production. According to the European Cannabis Report, after the introduction of medical Cannabis Cultivation in Greece, a considerable amount of up to 2 billion euros into the economy could be quickly injected. And worth billions of euros is indeed a significant boost to the Greek economy. The first two commercial licenses for the Cannabis Cultivation in Greece were issued in Larissa and Corinth. Corinth, which lies just south of Bioprocann & Athens is spending around $14.3 million or €12.5 million for creating the 46-acre plot for Cannabis Production. It is expected that it would generate approximately 66 jobs in the region.
If we talk about Larissa, it is a critical agricultural, commercial, and industrial center between Thessaloniki & Athens. Furthermore, Biomecann ( a registered firm) is going to build an 11-acre Cannabis Cultivation plot. For that, the firm would be investing around $10.9 million, or we can say €9.5 million. As per the estimation, it would create approximately 55 jobs. Another most significant fact is the interest of international companies in Greece's product. It is also expected that it would cover a vast market place, over the years, since around 14 Cannabis Production companies are expected to be operational. As per Greece’s Economy and Development Ministry, before the end of the 12 more licenses would be issued. Although Bioprocann & Biomecann do have Greek investors, they are being controlled by other multinational firms. These MNC firms consider Greece as an excellent base for targeting the European market. It is a highly efficient business strategy. Thus, the 12 companies that tend to obtain licenses are a mix of international companies(having Greek partners) and purely Greek companies. Notably, ICC International Cannabis Corp. is one of the multinational companies, which is considered to benefit from a favorable climate for Cannabis Cultivation in Greece ( by having a stake in Greece). Moreover, as the other benefits, they got labor that is cheaper as compared to several European countries. In recent years, Greece has successfully survived the turbulent economic situation. And the prominent business leaders, as well as young entrepreneurs, find the medical Cannabis Cultivation in Greek as the considerable opportunity to shore up the fiscal condition. Further, as mentioned earlier, 14 licenses to be issued by the end of this year for Cannabis Production, are expected to generate around $212 million or €185 million in investment. Prediction says that it would create around 750 jobs. Unquestionably it is a good figure, especially for a country that has been overwhelmed by unemployment over the past many years. Moreover, Stergios Pitsiorlas, the deputy economy minister shared a piece of information during a press conference that has come up as a big sigh of relief for the people in Greece. He claimed that many Israeli & Canadian Cannabis Production
firms had shown their keen interest in starting their operations in Greece, only for medicinal purposes so far.
Take Away As of now, you might have understood how the situation has turned around its pages for Greece. The sad days of unemployment have received a ray of hope that Cannabis Cultivation in Greece, will provide several job opportunities. It will not only improve the economic condition of Greece but would also establish healthy foreign business relations. If you are also looking for a platform that has all the operating assets to help you build your own Cannabis Production company, you should head toward ICC International Cannabis Corp. Our platform provides an opportunity for cultivation, extraction, formulation, and distribution across the globe. To know more visit our website now!