Barbados’ medical marijuana industry has encountered major difficulties including a change of mind by potential investors.

This has been revealed by Minister of Agriculture, Indar Weir, on VOB’s Down to Brass Tacks program where he admitted that none of the licenses issued has resulted in actual businesses being set up in either processing or cultivation.

He believes the economic disruption caused by the covid-19 pandemic has been a major factor.

Mr. Weir also disclosed that some potential investors have backed out and gone elsewhere.

Meanwhile international banking regulations have been a major hurdle as it would be difficult to move money earned through medical marijuana production.

Minister of Agriculture, Indar Weir.