The government of the Isle of Man has confirmed that licence applications are open for the production, distribution and export of medicinal cannabis products from the island.
The regulator for the sector – the Gambling Supervision Commission (GSC) – has now completed the guidance to support its regulatory framework, which will provide interested parties with details on the requirements for the licensing of hemp production and high-THC products.
According to a statement issued by the Isle of Man Department for Enterprise, Minister Laurence Skelly MHK, said: “The growing global medicinal cannabis market provides a significant opportunity for economic development in the Isle of Man.
“The new regulatory framework and guidance will offer stringent and flexible licensing of a broad range of cannabis products, which ranges from outdoor grown industrial hemp to indoor-grown medicinal products.
“The Isle of Man Government has every confidence that the GSC will provide a world-class regulatory structure required to regulate this new and complex industry.
“I am delighted to welcome licence applications and look forward to attracting quality businesses to the Island, transforming the cannabis export sector into a key contributor to the Isle of Man’s post-COVID economic recovery.”
Canex has previously reported that the government is aiming for the top: the plan is to make the Isle of Man a world-leading exporter of medicinal cannabis, which will provide significant economic investment and development for the island.
The sector is expected to create 250 new jobs and £3 million in annual benefit in the coming years, and considerably more through the growth of associated infrastructure – including financial and operational – to support the sector.
Last November, while reporting the accessibility of medical cannabis on the Isle of Man, we talked to David Ashford, the Minister for Health and Social Care.
Mr Ashford then reminded us that in 2019, the government of the Isle of Man invited its population to make their opinions clear on a wide range of issues regarding medicinal cannabis.
The results were telling: more than 95% of the respondents said they supported a regulated medicinal cannabis market.
The full guidance, along with licence applications and further information is now available to view here: https://www.isleofmangsc.com/.