Speaking after the cabinet meeting, Pamborides said that the aim of the bill was to get international investors to express interest in the two licences that will be granted for the cultivation of medical cannabis in Cyprus, attracting capital and boosting the field of research and development in the pharmaceutical sector and industry.

He said it is an innovative bill which he hoped will be approved by parliament so that Cyprus would soon have the legal framework required to attract this important investment.

It is a significant development measure, he said, adding that not many countries have adopted this practice.

“I believe that Cyprus can be a pioneer in the region due to the favourable weather conditions” required to cultivate it, he said.

The aim, he added, is to attract start-ups and new business opportunities so that researchers can exploit the fact that cultivation will be legal for medical cannabis and become active in research programmes.

Full Report At  http://cyprus-mail.com/2017/07/26/government-approves-medical-cannabis-bill/