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Five consortiums with investment plans to cultivate cannabis for medical use, adding up to over 1 billion euros on paper, have already knocked on the door of Deputy Economy Minister Stergios Pitsiorlas.

A few days ago the Greek Parliament approved the law for the production, manufacturing and sale of medical products containing cannabis, paving the way for attracting investment in a new and largely misunderstood activity.

It remains to be seen whether the initial strong interest transforms into actual investment and whether the interested parties are long-term rather than short-term investors.

In general, developments will depend on the speed of the issue of the necessary secondary legislation and its content.

Among the parties interested in the cultivation of medical cannabis in Greece are two of the world’s biggest companies in the sector, both from Canada: They are Aphria and Canopy Growth. The former plans in the next four years to develop 92,000 square meters…

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