Investors in medical cannabis projects are focusing on Greece, where a warm, sunny climate and potentially favorable future legislation could help the government deliver on a promise to pull the country out of a seven-year economic crisis.
Growers have expressed interest in pumping more than 1.5 billion euros ($1.74 billion) into projects to build greenhouse parks for the cultivation and manufacture of cannabis, Evangelos Apostolou, minister of rural development and food, said in an interview. That would give Greece a share of a global market the government says could be worth 200 billion euros in the next 10 years.
A single campus of 12 to 15 cannabis greenhouses could create 400 jobs, according to a task force preparing a draft bill to legalize medical cannabis in Greece.
Tsipras’s government plans to submit a bill covering medical legalization by the end of the year and passage could allow enough time for cultivation in time for a harvest next summer, according to the task force, which is currently working on preparing the legislation.
Read more at Bloomberg (Eleni Chrepa and Antonis Galanopoulos)
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