Expert highlights revenue potential of legalizing medical cannabis in Albania

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During an interview on A2 Business, Filip Gjoka, the President of the Association of Medicinal Plants, shed light on the potential economic benefits that Albania could reap from the legalization of medical cannabis. Gjoka estimated that the minimum revenue could amount to 50 million euros over a period of five years, depending on the quality of the product.

“For a minimum of four years, we can expect 50 million euros. This figure has the potential to increase, contingent upon the quality of the product that will be supplied to companies. The guaranteed market lies in the United States, meaning that certification by the FDA is crucial,” explained Gjoka.

He emphasized that businesses seeking licenses should not be prejudiced against. Addressing concerns of potential misuse, Gjoka argued that no entrepreneur investing 2-3 million euros would take such a risk that could lead to imprisonment.

“Real business exists and will continue to thrive. It’s a fear shared by many, particularly when looking at neighboring Macedonia, where licenses were issued without criteria, often through political connections. However, if we preemptively judge all types of business, it seems that no licenses would be granted. The law clearly outlines the criteria for companies seeking licenses, which serve as a guarantee for qualification. Engaging in this business is not as simple as an individual randomly planting cannabis on a small plot of land. To establish a successful operation, one would need at least 10 hectares of land, stringent security measures akin to a prison, and significant investments in infrastructure and equipment, totaling 2-3 million dollars. Any businessman investing such substantial amounts would not willingly risk imprisonment,” Gjoka explained.