Thailand set to unveil medical cannabis law

, Thailand set to unveil medical cannabis law

A draft law to greatly expand medical cannabis regulations in Thailand is expected to be unveiled this week, a move that executives say will open the door to potentially millions of dollars in investments.

In the works since last year, the draft narcotics code will permit medical marijuana research on humans.

The law will first be analyzed by the country’s cabinet, according to the Bangkok Post. Then it will go to the National Legislative Assembly.

The move shows Thailand is serious about medical marijuana, Jim Plamondon, vice president of Thai Cannabis Corp., told Marijuana Business Daily.

He said Thailand is on pace to be a leading player in the industry in Asia.

“Any company that is participating in the global cannabis industry should consider being among the first to move the least-profitable links in its global supply chain to Thailand,” he said.

“The money it saves by doing so can be invested in moving up the value chain towards establishing consumer brands, because that’s where the big money will be … because that’s where the big money always is.”

The Southeast Asia nation could be sitting on a $4 billion MMJ industry within a decade.

“Thailand is moving fastest among Asian nations to legalize cannabis, albeit in a very step-by-step manner,” Plamondon said.

Thai Cannabis Corp. was the first company in Thailand to win permission to grow cannabis and process it into oils, extracts and isolates.

All cannabis grown in Thailand must not exceed 1% THC.

Hemp cultivation was allowed in 23 designated districts in nine of Thailand’s provinces last year.

Matt Lamers can be reached at [email protected]

To sign up for our weekly Canada marijuana business newsletter, click here.

Latest Headlines

5 comments on “Thailand set to unveil medical cannabis law
  1. Jim Plamondon on

    Excellent summary. Thank you, Matt, for MJBizDaily’s continued professionalism in covering the international aspects of this industry.

  2. Theyalllie on

    Wow very misinformed, China is the most developed country in cannabis, then India, Laos, Australia and then Thailand…. Once again talk about airheads

    • joost van Delft on

      I live more then 15 years in China, no Cannabis yet ..uhhh we talked directly with the government s I know, India I=still the same do grow ..but no medical cannabis ,Laos is developing now love 2018 Australia is far far behind and Thailand is just starting !!! you know nothing about the exact situation …thanks for your your complete mis information

Leave a Reply

Your email address will not be published. Required fields are marked *