The legalization of cannabis offers a real opportunity for the development of investments.
The legalization of the cultivation of cannabis for legal, medical and industrial purposes constitutes a real opportunity for the development of investments around this activity, underlined the director general of the Regional Investment Center of the Tangier-Tetouan-Al Hoceima region ( CRI-TTA), Jalal Benhayoun.
“The publication of Law No. 13-21 on the legal use of cannabis for medical, pharmaceutical and industrial purposes today constitutes a real opportunity for the development of investments around this activity”, noted Mr. Benhayoun. , in a statement to MAP, stating that the objective of this new regulatory provision is to create a legal framework allowing the development of the medical and industrial cannabis sectors in accordance with the Kingdom’s international commitments.
It is also a question of quickly seizing the opportunities offered by the cannabis market, by attracting operators of international scope and supporting investment in the processing and manufacture of cannabis-based products, and to gradually convert these crops destructive of the environment into activities that are legal, sustainable and generate value and employment, he noted.
The manager assured that this vast project will allow sustainable socio-economic development in the territories concerned, in particular through the gradual retraining of traditional farmers engaged in these crops in legal activities, respectful of the environment and generating decent income, and their organization within the framework of cooperatives provided for by law no. The Minister of Agriculture.
Added to this is the improvement of the living conditions of the population engaged in this cultivation, and the installation of processing and manufacturing units of cannabis-based products near the cultivation areas, allowing the creation of jobs and boosting the local economy, he pointed out, noting that alternative crops and non-agricultural activities will be developed for the benefit of farmers who will not be able to integrate the legal cannabis program for reasons related to the size of the market at the start.
Mr. Benhayoun affirmed that the CRI, in view of the missions entrusted to it within the framework of Law 47-18, through the contribution to the implementation of the State policy in terms of development, incentive, promotion and attraction of investments at the regional level, and the overall support of companies, will work, alongside ANRAC and the regional investment ecosystem, for the preparation of a territorial offer integrated and attractive relating to all the investment opportunities related to the various legal uses of cannabis, as well as assistance and support for investors to benefit from incentives and support programs of a national, regional or territorial nature.
The CRI, he added, will also strive to assist and support investors in their administrative procedures, within the framework of the unified regional investment commission or with other competent bodies to obtain the authorizations required by the regulations in force, and to contribute to the stimulation of innovation in this sector, through the collective open innovation initiatives launched by the center like the Territory Development Challenge, in addition to arbitration and conciliation , with a view to reaching an amicable settlement of disputes which may oppose investors in the sector to the administrations and public bodies concerned, during the realization or operation of their investment projects.
Mr. Benhayoun also specified that the exercise of this activity related to the cultivation of cannabis for legal purposes is subject to certain conditions provided for by the regulatory framework, through the ANRAC, which is responsible for the regulation and control of the cannabis sector, regulation of the legal cannabis sector in accordance with the Kingdom’s international commitments, establishment of a rigorous system of traceability and control of activities, development of the cannabis sector and support for investments, and canvassing operators of international scope in the cannabis processing and manufacturing industry.
The Agency is also responsible for encouraging and supporting investment in processing activities, the organization and development of the various links in the sector ranging from the production of the seed to the marketing of the finished product, the support for scientific research in order to promote the use of legal cannabis, support for operators, field monitoring of all cannabis-related operations, facilitation of administrative procedures in coordination with the administrative authorities concerned, and contribution to converting current activities into lawful, sustainable and income-generating activities, with particular concern for the protection and promotion of national heritage, he added.
The manager indicated that the CRI-TTA and ANRAC are working in consultation with the entire ecosystem to establish an action plan that is both pragmatic and agile, with a view to enabling better implementation of this program. in the territories of the region concerned.
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The legalization of cannabis offers a real investment opportunity – AgriMaroc.ma
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