Sri Lankan Government to Take up Cabinet Paper Legalizing Hemp Cultivation for Medicinal Production to Boost Foreign Exchange

The Sri Lankan government is set to present a cabinet paper aimed at obtaining legal authority to invite investors for the cultivation of hemp, primarily for medicinal purposes. The initiative, scheduled to be discussed in the cabinet today, is expected to pave the way for the legalization of hemp cultivation exclusively for export, with the aim of bolstering the country's foreign exchange reserves.

Minister of State for Indigenous Medicine, Sisira Jayakody, highlighted the potential economic benefits of legalizing hemp cultivation, emphasizing that it could significantly contribute to the country's foreign exchange earnings. Speaking to the media, Minister Jayakody explained that the proposed legislation builds upon the recent amendments to the Ayurveda Act of 1971, which granted legal authority for the cultivation of medicinal plants.

"We have submitted the draft Ayurvedic Code of Law to the Attorney General. It is going to be presented to the cabinet. After the cabinet approves it, we will be able to carry out the necessary activities to invite the necessary investments to move as a foreign exchange growth channel in our country. These investors will be invited through the Ayurveda Board," stated Minister Jayakody.