Colombia gives priority status to its medical cannabis industry

The Government of Colombia declared the medical cannabis industry a ‘Project of National and Strategic Interest’ (PINE), a decision that should be considered a historical achievement. 

With this priority status, the execution of strategic projects and regulatory processes in the country can be accelerated, and it is expected that the Colombian cannabis market will experience even greater growth than before.

Among the favored companies are Clever Leaves and Pharma Cielo, two of the main licensed operators and producers of high-quality pharmaceutical grade cannabinoids.

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The decision will accelerate and simplify administrative processes for cannabis

For Clever Leaves, the designation as ‘PINE’ serves as evidence that the Colombian government is giving their full support to the cannabis industry,  and is progressively working in favor of developing this sector. The reasoning seems clear given the considerable economic contributions that cannabis could bring and the positive changes medical cannabis could trigger in the country’s health system.

According to the company, this designation will allow Clever Leaves to accelerate current administrative processes, which can take months and usually serve as a delay to many transactions, as well as simplify others, while the company focuses on the development of new high-quality products to offer them in both the Colombian and international cannabis markets.

This decision also serves as a recognition of the company’s continued efforts to work together with the Colombian government, and its important contributions to the country’s medical cannabis industry, as well as to the economy in general. 

“We are proud to create a business that not only generates a return on investment, but demonstrates operational sustainability and has a positive impact on the community in which we operate, ” said Kyle Detwiler, CEO of Clever Leaves. 

“We anticipate that the designation as ‘PINE’ will help us streamline processes and coordination with government entities as we work to commercialize Colombian medicinal cannabis products and thus respond to the needs of the industry,” he added.

PharmaCielo applauded the decision taken by the Colombian government

The Canadian parent of the main grower and producer of medicinal quality cannabis oil in Colombia, PharmaCielo Colombia Holdings SAS, stated that this decision reflects the structural and policy support of the Colombian government for the progress of the cannabis industry.

Furthermore, it also solidifies the commitment to simplify government decision-making and remove bureaucratic hurdles which hurt the industry. 

“We appreciate the recognition and commitment of the Colombian government in support of PharmaCielo as the first cannabis company in the country to receive the license. We expect PharmaCielo and the industry at large to benefit from the PINE designation as an imperative for rapid decision-making and execution as the global industry evolves ” said David Attard, CEO of PharmaCielo in a press release.

According to Attard, this decision can be considered a game-changer as the designation places the Colombian cannabis industry on the same level as mining, coffee and avocado industries, in which the country has become world export leaders.

It is expected that the ‘PINE’ designation will bring significant benefits to Colombia’s fragile economy, especially in these times of crisis, opening thousands of opportunities for businesses and people.

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(Featured image by Cytonn Photography via Unsplash)

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