Saturday 4 February 2023

Carlos Alvarado reiterates commitment to prepare regulations for the use of hemp and cannabis

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4 February 2023 - At The Banks - BCCR

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QCOSTARICA – President Carlos Alvarado reiterated his commitment to preparing the regulations for the use of hemp and cannabis, a few weeks before the end of his administration.

Carlos Alvarado leaves office at noon on May 8

On Wednesday Alvarado announced the beginning of the meetings for the transition of power.

However, before leaving Casa Presidencial on May 8, Alvarado said that he will fulfill his promise regarding hemp and cannabis.

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“There is already a first draft, it is under review and we are going to fulfill the promise of the consultation part and the publication part,” said Alvarado.

“We hope that in the next few days it will materialize,” he added.

Since Alvarado had announced the initial veto of the bill, Ley de Cannabis y Cáñamo, he anticipated that the regulation would be key to the development of the law. This would include the regulation where aspects such as the licenses that would control the cultivation, production and commercialization of the plants would be left firm; both hemp and cannabis.

A Procomer study indicates that in 2025 the hemp and medical cannabis market could move US$35 billion a year.

CINDE for its part, had already mapped at least 3 companies, from the United States and Ireland, interested in investing in the country.

Regarding his personal future, Alvarado also said that he will begin to “look for work” after leaving the presidency, reminding us that he gave up his presidential pension and needs to earn after he leaves public office.

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The outgoing President also announced that, in his last speech, the annual rendering of accounts to the Legislative Assembly and the national, which will be on May 2, he will defend the achievements of his government.

 

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