The Industrial Hemp and Medical Cannabis Amendment Act No. of 2025 will allow the industry to move forward.

The amendment enables banks to open accounts for license holders and allows them to import foreign seeds into Vanuatu.

This bill amends the Industrial Hemp and Medical Cannabis Act No. of 2021.

Minister of Agriculture, Ian Wilson, told Parliament that the industry could generate over VT60 billion in annual revenue once fully operational.

“The Ministry of Agriculture conducted a feasibility study in 2024, which made strong recommendations , one of them being the creation of a policy and strategic framework to guide the industry’s work. The ministry and government are working to finalize this before the end of the year.”

Licenses were issued in 2023, but operations have yet to start because foreign partners couldn’t transfer funds into local banks, and banks did not allow account openings for license holders.

The strategic framework and policy are crucial to ensure compliance with Vanuatu’s financial laws and build trust with banks.

“The second purpose of this amendment is to ensure the ministry complies with financial requirements, allowing transparent and lawful transactions since we are dealing with two controlled substances.”

The Opposition also supported the amendment. Deputy Opposition Leader, Gacia Sedrak, said they back the bill but stressed the need for strong security measures in the industry.

“The Minister mentioned that these two seeds may be dangerous drugs, so there must be strict security measures. The Opposition supports the bill.”

So far, the government has issued five licenses , four for medical cannabis and one for industrial hemp , each costing around VT12 million.

In Parliament, the Minister added that the amendment will strengthen the Agriculture Ministry’s capacity to monitor the companies’ daily activities to ensure full compliance with national laws and policies.