Since the Colombian government’s policy shift on cannabis, thanks to ProColombia – the executive branch in charge of promoting Foreign Direct Investment (FDI) and non-traditional exports – 18 foreign capital projects have arrived in the country targeting the medical cannabis segment. According to Flavia Santoro, President of ProColombia, these initiatives represent investments of US$288 million, which investors estimate will create more than 2,000 jobs. The projects, such as a recent US-backed medical cannabis facility, are only the start of the possible economic benefit this cannabis FDI can bring Colombia and other countries open to the industry.
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These cannabis projects with FDI backing in Colombia are, of course, part of a growing trend. According to FDI Markets, between 2015 and 2021 (January to April), worldwide, 136 companies invested US$4,458 million in 181 cannabis projects, which generated approximately 18,000 jobs.
Colombia stands out for its strong potential in this sector, however, due to multiple factors. First, the country has a stable regulatory framework that is one of the most complete at the international level. It includes specific measures that clarify and streamline without overburdening every facet of the industry. From seed, cultivation, transformation, generation of added value to safe access by patients, the Colombian oversight has tried to streamline the entire industry for investment and production.
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