The Uruguayan government has stated its decision to promote medical and industrial cannabis use. Investors have a clearer panorama now that cannabis products production, industrialization, and export licenses are being streamlined.
Regarding industrial use, Livestock, Agriculture and Fishing Ministry (“MGAP”) have publicly stated that “they are working to amend cannabis and hemp legal framework, in order to make this industry more flexible, as a productive alternative to boost the agricultural sector and the country’s economy ”.
In 2020, cannabis is being exported for industrial and medical uses to different countries (including highly demanding markets, such as Switzerland). It is estimated that by the end of this year exports will reach about US$200 million.