A committee in the Bahamas has proposed the legalization of hemp and hemp extracts in the country, saying the industry has high economic potential with tremendous growth.
The Economic Recovery Committee charged with structuring an economic recovery plan for the North American nation presented a report last week calling out for the legalization of hemp as well as marijuana.
Bahamas Prime Minister Hubert Minnis was presented with the recommendations as part of a more comprehensive report on economic recovery.
Speaking in the Bahamas House of Assembly, Minnis criticized the country’s cannabis regulations, which he believes are outdated and necessitating reforms.
The Prime Minister did not elaborate on his views regarding the cannabis industry. However, he said the majority of cannabis businesses should be Bahamian-owned, if not all, of them. Minnis told the House of Assembly the introduction of hemp and marijuana industries in the country offers countless opportunities to innovative local businesspeople ready to utilize the new sectors.
The Economic Recovery Committee report recommends that the country removes hemp and its extracts from regulatory limits if they contain no more than the prescribed THC content. The report wants the government to make available state-owned land for cannabis cultivation with provisions for the Rastafarian community as well as small-scale cannabis growers.
If the recommendations are adopted, marijuana for adult-use will be legal in the country, with Bahamians allowed to possess no more than 2 ounces. Still, illegal possession of the drug exceeding the prescribed limit can be prosecuted and attract a fine.
One of the key recommendations was for the government to provide licensing for on-premises consumption to cannabis cafes, guesthouses, and resorts.
Minnis is optimistic about the recommendations and says the next step is for the plan to be subjected to public comment for feedback.