Cannabis Industry in Belize Still Not Materialized

Kareem Musa

And, in an ideal world for the Minister of New Growth Industries, cannabis would have been one of the commodities featured at this year’s investment summit. But we are not there yet, and there are still a lot of questions about whether we will ever get there. Well, Minister Musa says there have been some recent developments in the global industry that could prove beneficial to Belize.

Kareem Musa, Minister of New Growth Industries

“There are developments Paul. For instance just yesterday, the U.S State Department of Health just recommended that there be a rescheduling of cannabis and that is huge for the industry, not just Belize and again we don’t want to keep missing the boat but they’re rescheduling and proposing to reschedule from a class one substance to a class three substance and what that means is the reduction of criminal penalties for cannabis. It will no longer be equated with serious drugs like LCD and heroin and those other drugs that are in class one. That could result in greater relaxation of our correspondent banking relations, all of these things, and so we see where the worldwide movement is going. We are keeping up to speed with it but at the same time we don’t want to be left behind.”