As reported by Reuters, Greece issued the first licenses to private companies to grow medicinal marijuana within its borders. The first licensed cannabis nurseries will be in Larisa in central Greece and in Corinth in the Peloponnese.

In following the international trend of legalising cannabis for medicinal use set by sister nations around the world, Greece has granted 2 licenses to private institutions to grow and produce marijuana, and has plans to issue 12 more by the end of the year. The first products are set to hit the market in about 12-18 months.

In discussing Greece’s new business, Vassilis Kokkalis, deputy minister of agriculture, said, “Our message is that the country is open for investments.”

Stergios Pitsiorlas, the deputy economy minister, said that there is “huge interest” from investors in Canada and Israel to get this export-oriented project off the ground. With a market worth billions, Greece’s 14 licences are expected to create more than 750 jobs and represent about 185 million euros in investment.

In addition to the economic benefits, cannabis will be used to treat a range of serious medical conditions of the Greek population.

For the original article published by Reuters on November 19, 2018, please visit: https://www.reuters.com/article/us-greece-medicine-cannabis/greece-eyes-pot-of-gold-as-medicinal-cannabis-licensed-idUSKCN1NO1ZY.