Thailand’s Public Health Ministry has signed a Memorandum of Understanding (MOU) with RxLeaf World Medica on establishing the International Medical Cannabis Research Center. The latest movement is a part of Thailand’s plan to be a world-class cannabis production and development hub. The center aims to be a knowledge hub for genetic research on medical cannabis, bringing together doctors, researchers, experts from Canada, the Netherlands and other countries to conduct cannabis products research and development while at the same time exchanging the medical cannabis knowledge.
Mr. Anutin Charnvirakul, Deputy Prime Minister of Thailand and Minister of Public Health, said the ministry has been promoting medical cannabis and its safe treatment. According to the study, cannabis can treat various diseases such as cancer, epilepsy, multiple sclerosis with muscle pain, and neuralgia.
The minister also acknowledged the COVID-19 situation has affected the Thai economy, and to alleviate the situation, the economic reform and new opportunities required. The center is one of the catalysts to support the economic recovery. This also conforms to the Thai government’s plans to promote the country as a comprehensive medical hub in Asia, and to encourage the development of the cannabis value chain, including product cultivation, standardization, market expansion and support for investments in new products.
The medical industry is a key prospect for economic reform due to its global valuation at US$8.3 trillion, while the legalized cannabis market is at approximately US$12.5 billion (source from WHO and Prohibition Partners). Therefore, this is a tremendous opportunity for the country as Thailand has both the personnel and physical capability and potential to accept this challenge.
Creating a medical and wellness tourism hub will attract those who prefer integrative medicine and plant-based products such as those developed from herbs for cancer or seizure patients, as well as cosmetics and dietary supplements. Additionally, these products will add value to the food and drink market and allow both farmers and entrepreneurs to grow and develop sustainable products.
This policy led to a partnership between public and private sectors in establishing the International Medical Cannabis Research Center under an MOU signing with RxLeaf World Medica Company Limited, a subsidiary of Amara Asia Company Limited. Amara possesses expertise in cannabis growing and plant using solvent-free technology for medical use.