Argentina's 'Cannabis Conicet' Public Company Seeks To Strengthen The Industry In South America

  • HOME
  • /
  • News
  • /
  • Argentina's 'Cannabis Conicet' Public Company Seeks To Strengthen The Industry In South America

Argentina's 'Cannabis Conicet' Public Company Seeks To Strengthen The Industry In South America
21-Oct-22 05:48:32

The government of Argentina created a technology company that aims to boost the medical cannabis and industrial hemp industry. The technology-based public company, the ‘Cannabis Conicet’, will operate under the direction of leading scientific researchers at the Arturo Jauretche National University (UNAJ) and the "El Cruce" High Complexity Hospital.

Ana Franchi, president of the new company said in a statement: “This commits us to have a state that guarantees, not represses, the use of cannabis, and intervenes in public health and in this line, also in production."

Promoting Cannabis Industry In The Southern Cone

Cannabis Conicet will generate quality and innovation standards in the stages of cultivation, production, clinical and industrial use. In turn, it will strengthen "education and training of human resources, the economic value and the social value of the industry through its articulation with the national science and technology system," according to El Cronista.

“Cannabis Conicet signifies the presence of the State. Health is a right and it is the State that has to guarantee that right. That is why the objective of developing this technology is to evaluate the quality and ensure peace of mind for those who consume these products," said Daniel Filmus, Argentina's Minister of Science, Technology and Innovation, speaking at the company's inauguration.

Likewise, the company's commitment is to develop the capacity to develop products with Argentine technology and to generate a true federal industry.

“This company is a significant fact on the path to building technological sovereignty. It is about the State promoting cannabis research through our scientists and scientific and technical organizations, with the aim of developing technologies and products to improve the quality of life of our community," Carolina Gaillard (FdT), a national deputy told El Planteo in an exclusive interview.

"It is essential that the entire public system is at the service of generating knowledge that serves to guarantee access to more and better health products for the entire community," she said. “Argentina has a scientific and technological system that is a pride in the world, and that is at the service of the community to improve its quality of life. It is a strategic political decision of Minister Filmus and our President Alberto Fernandez."

Dr. Silvia Kochen, the scientific coordinator of the new technology-based public company, and a member of the Argentine Network of Cannabis Medicine (RACME) also spoke with El Planteo.

“This is a project (...) seeks to contribute to people having quality access to cannabis, to continue doing research, and for us to have seasonal crops.

In July, Medical Marijuana, Inc. MJNA, the first publicly traded cannabis company to launch cannabis-derived nutraceutical products, brands, and supply chains, announced that its subsidiary HempMeds is collaborating with Hospital del Cruce to conduct a study, led by Kochen on the efficiency of CBD as a treatment for epilepsy in adults.

Argentina Marijuana Law

In early May, Argentina’s Congress approved a law to create a regulatory framework for public and private investments in the production of hemp and cannabis products. “This is another triumph of society against hypocrisy. I lived it with the divorce law, with same-sex marriage, and with abortion. I am an inveterate fighter against hypocrisy. Today we are winning another battle," said President Alberto Fernández.

The legislation legalizes the production of cannabis for medicinal and industrial purposes, creating a new industry that will help the recovery of Argentina's struggling economy. In addition, the law provides banking services for cannabis businesses and opens a huge potential market of some 45 million people.

“The cannabis industry could create up to 10,000 new jobs by 2025, increase the domestic market by $500 million, and increase export revenues to more than $50 million,” said Matias Kulfas, Argentina's former Minister of Productive Development.