(A version of this story first appeared at Marijuana Business Daily.)
A Bahamas committee charged with laying out an economic recovery plan recommends the country legalize hemp and hemp extracts.
Presented last week, the Economic Recovery Committee report also calls on the nation to legalize marijuana.
He did not elaborate, though he said cannabis businesses would have to be Bahamian-owned or majority-Bahamian owned.
“There are potentially many opportunities for creative Bahamian businesspeople to get involved in this new industry,” he told the House of Assembly.
The report recommended the Bahamas:
- Exempt hemp and derivative products with minimal or no THC from regulatory limits.
- Make government-owned land available for the cultivation of cannabis, with provisions for small-scale farmers and the Rastafarian community.
- Allow for the possession of adult-use marijuana up to 2 ounces. Unsanctioned possession exceeding that limit would be punishable with a fine.
- Provide for the licensure of cannabis cafes, resorts and guesthouses for on-premises consumption.
Minnis said the next step is public comment on the plan.
The Economic Recovery Committee report is available here.