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By Franca Quarneti via El Planteo.
The cannabis industry is advancing quickly in Panama, a country located on the isthmus between Central and South America. In October 2021, Panamanian president Laurentino Cortizo sanctioned a bill that regulates the controlled use of medicinal cannabis and its derivatives for therapeutic, medical, veterinary, and scientific purposes. Panama then became the first country in Central America to legislate the medicinal use of marijuana.
“Panama has enormous competitive advantages and can quickly become an import and export hub for the entire world. The combination of elements such as its ports and logistics platform, its robust banking sector, and the confidence that its legal certainty offers the markets provide a perfect environment for Panama to strengthen its local market and the rest of the Latin American region,” explained in exclusive to El Planteo, Noemí Pérez, president of PRMedCann.Biz, a consulting firm focused on the cannabis industry.
Likewise, the expert outlined the enormous potential of the industry to boost employment and economic growth. "Hemp represents an unmissable opportunity for the reactivation of the agricultural sector, capable of generating 17 jobs for each cultivated hectare, in addition to the impact it has on other fields," Perez said. “The jobs are very varied: from farming to the sale of hemp-derived products that involve marketing knowledge.”
Now, what can investors expect? It is estimated that for every dollar that the patient invests in cannabis, an additional $2.5 is injected into the local economy. In Puerto Rico, a jurisdiction of similar proportions to those of Panama, the number of direct jobs created already exceeds 6,000, five years after the industry was legalized.
In addition, retail sales generated profits of USD $800 million, with a positive impact on collections for the treasury. Sales taxes exceeded USD $85 million. Taking the case of P.R. as an example, it is estimated that in Panama the industry could generate an economic impact of close to $30 million.
In order to promote investment opportunities and educate on how to be successful in this budding industry, El Planteo, PR MedCann.Biz, Javier Hasse and Canalis Capital organized LATAM CANN.BIZ. The event will take place on September 1 and 2, at the Santa María Luxury Collection Hotel & Golf Resort in Panama City.
Given its unique features, LATAM CANN.BIZ is considered the most important conference in Latin America in 2022. This event will bring together a large part of the most prominent entrepreneurs, investors, and professionals in the cannabis industry in the world. To get tickets, you can click here.
“The cannabis industry has successfully developed in several countries around the world, from the United States and Canada to Israel and Colombia. LATAM CANN.BIZ will bring accomplished experts from these countries in order to bring these opportunities and their learnings to the public in Panama and Latin America in general”, said Javier Hasse, CEO of El Planteo and award-winning author specializing in cannabis.
The event will feature local and international experts who will focus their presentations on issues of public policy, economic development, business, and health.
This is the regional opportunity of the year to establish business or networking contacts for all the sectors involved.
The event will feature panel discussions, talks, networking sessions, and presentations from companies and investors, and will enable networking among various stakeholders.
Among the most outstanding speakers are:
You can now get your early bird tickets HERE. Hurry up! Prices will go up soon.
Image Via El Planteo.
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