Greece has approved 26 licences for cannabis cultivation and processing facilities in the country, the government has confirmed.
A government spokesperson said they are “very excited about the possibilities of medicinal cannabis” with the state actively “seeking international investment.”
The Kyriakos Mitsotakis administration, which was sworn in last month, hopes that new licences will eventually lead to around €360 million of investment and create up to 2,250 jobs. Greece’s unemployment level has remained the highest in the Eurozone, making potential foreign direct investment attractive to the new government.
In total, 72 applications have been made, with four official rejections, and a further 42 bids still to be determined. So far, no firm has gained all three licences required to begin production. However, optimism is building that businesses could be fully operational within the next 12 months.
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