For today's weed news we go to the great nation of Malta.
I am happy report that yet another country is siezing the opportunity and planning to produce medical cannabis for export within their borders!
That's right, the Mediterranean country of Malta has officially announced plans to produce and export medical-grade cannabis flower worth around $1.4 billion before the end of 2023!
That's pretty amazing, since they only legalized medical cannabis about a year ago!
The country's Prime Minister Joseph Muscat recently visited Canada and the US. Towards the end of his North American visit, he was interviewed by Television Malta and said that
20 companies had already submitted so called "letters of intent" to Malta's MMJ regulator known as Malta Enterprise.
"Exportation will begin in the first quarter of next year... We are estimating that exports by year 3 of these companies will reach more than 1 billion Euro and that 900 jobs will be made available, however we can attract even more players in this respect," added the Prime Minister.
Those are some pretty sweet numbers if you consider the fact that the country has a population of less than half a million and that their total estimated GDP for this year is going to be just under $23 billion.
I feel like being able to add yet another European country to the list of global cannabis producers is a big deal since Europe has been kind of slow as far as embracing the amazing Herb goes.
I sincerely hope that they do reach their goals for 2023 and that neighboring countries take notice of how much Malta's economy benefits from it. They are potentially looking at a 7-8% increase to their total GDP in just three and a half years thanks to one single new plant. That's absolutely incredible.
Anyway, shout outs to Prime Minister Joseph Muscat for keeping up with the times.
And for right now, that's what's up with MMJ in Malta.
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