Thai Ministry of Public Health confirmed on Monday that he had signed a memorandum of understanding with RxLeaf World Medica to establish an international medical cannabis research center.
The last movement is part of Thailand’s plan to become a world-class cannabis production and development hub. The center aims to be a knowledge center for genetic research on medical cannabis, bringing together doctors, researchers and experts from Canada, the Netherlands and other countries to conduct research and product development while exchanging knowledge about medical marijuana.
Anutin Charnvirakul, Deputy Prime Minister of Thailand and Minister of Public Health, said the ministry had previously promoted medical cannabis and its safe treatmentst. According to the study, cannabis can help manage symptoms of various diseases such as cancer, epilepsy, multiple sclerosis with muscle pain and neuralgia.
Thailand’s economic recovery, one of the Centre’s objectives
Minister Charnvirakul acknowledged the COVID-19 pandemic has negatively affected the Thai economy and to alleviate the situation, economic reforms and new opportunities are needed. The center is one of the catalysts to support economic recovery. This is also in line with the plans of the Thai government to promote the country as a comprehensive medical center in Asia and to encourage the development of the cannabis value chain, including product cultivation, standardization, market expansion. and support for investment in new products.
The medical industry is a key prospect for economic reform due to its global valuation at $ 8.3 trillion, while the legalized cannabis market is approximately $ 12.5 billion. (source from the World Health Organization and Prohibition Partners). So this is a tremendous opportunity for a country like Thailand, which has both the staff, the physical capabilities and the potential to meet this challenge, noted the Minister of Public Health.