BOI gets green light for pilot project to cultivate cannabis

26 May 2023 10:41 pm - 14 - {{hitsCtrl.values.hits}}

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The Board of Investment of Sri Lanka has received the approval from an expert committee to embark on a pilot project to cultivate cannabis within a BOI zone.

This was revealed by Investment Promotion State Minister Dilum Amunugama during a media briefing at the BOI headquarters.

The pilot project is to kick-off soon in the Katunayake zone and discussions are underway with investors and experts to finalise the pilot project.

"We have been authorised as the experts committee report is out. It's a 'Yes'. We have got the instructions to go ahead with the pilot project," said Dilum Amunugama.

"The investors who are interested in the project will have to grow the cannabis and manufacture a product out of it, which will be the income for the country," he stated.

The State Minister proceeded to say that the Cabinet would have to be briefed as to how the project is to be implemented.

Meanwhile, he said the BOI has been able to attract investments worth USD 604 million during the period from January to May in 2023, with 22 new projects and six expansions. (Sheain Fernandopulle)

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Comments - 14

ANNECUNT Saturday, 27 May 2023 03:45 AM

WELLDONE IT IS A GOOD MOVE

KD Saturday, 27 May 2023 07:37 AM

Why only BoI projects? Local farmers should be allowed to grow this. This is one of the quickest ways to grow the income of farmers in the country. Instead, money is going to foreign investors. Sigh.

lester Saturday, 27 May 2023 07:44 AM

Only government in the world to grow weed. Might as well sell cocaine too.

Disaster Saturday, 27 May 2023 09:13 AM

Who are in the "expert committee" ? Are they inmates of the prison serving life sentences ?

Drug Baron Saturday, 27 May 2023 09:24 AM

After some period if the CANNABIS cultivation is found to be successful and bringing in good foreign exchange, the present tea estates can gradually be replaced by growing cannabis as income from tea exports is dwindling.

Citizen k Saturday, 27 May 2023 01:31 PM

Land of daze and haze.Future Afghanistan.Don't we ever learn anything.Why are developed nations grow them.Please look at the consequences.Its very gloomy.Visit Yemen Arab Republic .The citizen are ensalved by Quat a narcotic .I have been there for years and seen the horrendous impact.

CoR Saturday, 27 May 2023 08:05 PM

Now people can imagine who was behind the issue of spreading KG and other narcotic products amongst Sri Lankan youth to lead a cultural ruin.

Ganesh Saturday, 27 May 2023 10:41 PM

Even Thailand which has some of the harshest punishments for drugs has allowed cannabis. World is slowly but surely waking up to its benefits as a medical alternative to synthetic drugs for various illnesses such as paralysis and Parkinson’s. Why not us?

Gb Saturday, 27 May 2023 11:32 PM

Needs to be legalized too, for recreational and medical use, the boi and their families are going to monopolise it, crops can be easily grown by the poorest of people to get themselves out of poverty, sl could become like Thailand, most tourists smoke police don't do nothing, but if we smoke we are beaten and jailed, we can't grow and export until it is legal here to grow and use

UMAS ALI Sunday, 28 May 2023 01:56 AM

very good we dont need to beg from other countries any more

Lamps Sunday, 28 May 2023 02:47 AM

They all need money ..they don't care where it come from ?

Forward thinking Sunday, 28 May 2023 05:00 AM

Very wise economic move. All naysayers and critiques in this comment section are definitely older generation stuck in the mud sorts

Sam Sunday, 28 May 2023 08:32 AM

Why BOI. Why let foreign companies grow cannibia here. The only gain the country will have is a few jobs and salary dollers. They will not keep there money here. Should be for local companies only the the money will possibly stay in the country. Mind you the expert committee will consist of MPs who have likely been importing drugs for over 20 yes so little chance of that happening. Will be awarded to their 'overseas' partners.

Balasaravanan Monday, 29 May 2023 06:28 AM

As usual, late in to the market But, better late than never

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BOI gets green light for pilot project to cultivate cannabis

Comments - 14

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