Belaws Home ›› Thailand ›› Blog ›› Thailand aims to become a leading medical marijuana hub

news

Thailand aims to become a leading medical marijuana hub

Thailand is getting ready to position itself as a world leading medical marijuana hub. This will be achieved by helping the production and growth of medical marijuana (and related medicines) become a major industrial crop in the country. The Thai Government plans to actively promote medical marijuana as a legal and wide ranging medical treatment from November 10th.

How will this be achieved?

The Health Ministry is looking to introduce and push through new policies which will allow Thailand to grow and produce cannabis products and medicines at an international standard. These new planned policies have come after the huge success of Thailand’s medical marijuana clinics, which began operation last year and have generated around 7 Billion THB for the Thai economy.

The Government is hoping that Thailand’s first mover position and rapidly developing infrastructure designed to support medical marijuana can cement their position as a leading global hub.

Furthermore, Thailand is working on developing its credibility within the field through the establishment of the International Medical Cannabis Research Centre. The International Medical Cannabis Research Centre will consist of Doctors who specialise in medical marijuana. These Doctors will help research and develop the best ways to help grow and extract medical marijuana in order to develop the infrastructure further.

Why the focus on medical marijuana?

Thailand is already considered a global medical tourism hub, the move towards the promotion of medical marijuana could be a significant boost to its position in the region. Currently, Thailand is one of the first Asian countries to legally adopt medical marijuana which gives them a significant advantage in what has turned into a rapidly developing field.

Conclusion

This drive to push Thailand to the top of the medical marijuana industry presents a great opportunity for companies who specialise in marijuana to come to Thailand and set up their business. For more information about how your company can take advantage of these opportunities, please feel free to contact our team of experts.

To reach our team of experts, please click this link.

Please note that this article is for information purposes only and does not constitute legal advice.

Are you sure that your accounting & tax needs are being met? Why not make sure by booking our FREE audit.

Our free audit includes:

Checking your company practices for any issues and problems relating to accounting and tax compliance.
Advising on accounting and tax solutions.
Answering any accounting and tax related questions you may have.

Our service is provided by Khun Kim, a top accounting & tax expert from Rosemont Business Asia, a leading regional accounting firm.

schedule a call