Minister of Industry, Investment and Commerce, Hon. Audley Shaw, says that Jamaica is poised to become a major leader in the burgeoning global CBD oil (cannabidiol) industry.
CBD is the non-psychoactive medicinal compound, found in hemp plants and is known to provide a wide and diverse variety of wellness benefits.
The global CDB market, even with the global COVID-19 pandemic, is expected to exceed US$20 billion by 2025.
Minister of Industry, Investment and Commerce, Hon. Audley Shaw who was on a tour of Organic Growth Holdings (OGH) facility at Long Pond in Trelawny on Friday, December 18, lauded OGH, Jamaica’s first and largest commercial medicinal hemp cultivator and processor, on its first shipment of hemp products to Delaware in the United States.
“This is a very proud moment for Jamaica, and I want to congratulate OGH on this significant achievement. This is the first time we are producing CBD oil from hemp at a commercial level at world standard, not only for export but also to be available locally. Your company is on a thrust to ensure that Jamaica takes its rightful place as the world leader in CBD production,” Minister Shaw said.
The Minister said the Ministry of Industry, Investment and Commerce and the Cannabis Licensing Authority (CLA) which is under the Ministry’s portfolio, as well as the other agencies that have been involved – the Bureau of Standards Jamaica and others, are committed to working with OGH.
“We are here to work with you because we want to see the hemp industry as a major part of the alternative industry for this area in Jamaica as there are too much idle lands in Jamaica. Idle lands and idle hands is a blueprint for perpetual poverty and we can no longer afford that. I must commend you for setting the pace for us to say yes we can produce our own CBD oil right here in Jamaica. We want to become the best CBD oil producer in Jamaica,” Minister added.
Meanwhile, State Minister in the Ministry, Hon. Dr. Norman Dunn said that the Government wants to see much more from the hemp industry. He noted that Jamaica has a brand that can be leveraged anywhere in the world, and offers a tremendous opportunity for OGH to continue leveraging that brand, and to ensure that the organisation becomes a great success.
He added that the hemp and cannabis industry are priority areas for growth and development, and are being given a lot of attention at the Ministry.
“We are on a drive to keep modernizing the industry and keep adjusting to this new industry. Some persons might be saying we are moving too slow, but we have to be cautious in what we are doing because of the legacy of these particular products in Jamaica. We want to ensure that we do everything correctly and in a manner that can stand up to scrutiny anywhere in the world,” Minister Dunn said.
For his part, President, Organic Growth Holdings, Robert Weinstein said that he was happy that after breaking ground in 2019 for the US$4-million hemp plant, for CBD oil (cannabidiol) production, the Trelawny-based Organic Growth Holdings (OGH) has sent off its first shipment of products to the United States.
“Everything that OGH does is organic. Not only do we provide the first CBD product from Jamaica, but the cleanest most health and wellness focused product out there in the world. This is why Jamaica will have the number one CBD product,” Mr. Weinstein added.
Welcome to the official website of the Ministry of Industry, Investment and Commerce.
The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.