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420 with CNW — Thai PM Wants Marijuana Recriminalized Barely Two Years After Decriminalization

Thailand’s prime minister announced plans to classify marijuana once again as a narcotic by the end of the year, marking a significant reversal of its earlier decision. Just two years ago, Thailand took a progressive step in Asia by decriminalizing recreational marijuana use.

Despite this reversal, Thailand has witnessed a rapid expansion of its domestic cannabis retail sector. Over the past couple of years, thousands of businesses and stores have emerged, projecting an industry value of potentially up to $1.2 billion by next year.

Expressing the government’s intentions on X, SretthaThavisin, Thai prime minister, called upon the health ministry to revise regulations and reclassify marijuana as a narcotic. However, he emphasized that its usage should be restricted solely to medical and health purposes.

The cannabis decriminalization journey in Thailand began in 2018 for medical purposes and extended to recreational usage by 2022 during the tenure of the previous government. Nonetheless, critics argue that the liberalization process was hastily executed, resulting in widespread confusion regarding regulations.

Srettha reiterated his government’s commitment to taking a hardline stance against illicit drugs following a meeting with agencies involved in combating narcotics. He urged authorities to demonstrate tangible progress within the next three months, emphasizing the detrimental impact of drug addiction, particularly among young people.

In addition to bolstering enforcement efforts, Srettha called for a re-evaluation of legal drug possession thresholds, suggesting a shift from defining possession by “small quantities” to even “a single pill” to facilitate stricter enforcement.

Previously, Srettha’s administration had expressed its intention to enact a marijuana law by the end of the year, aiming to prohibit recreational cannabis while permitting its use exclusively for health and medical purposes. However, the timeline for reclassifying marijuana as a narcotic as well as evaluating requisite procedures remain uncertain.

The secretary-general of the country’s Marijuana Future Network, Prasitchai Nunual, criticized the idea of recriminalization and forewarned of the negative effects it would have on small companies, consumers and the economy. He contended that a large number of people had made investments in marijuana enterprises and cultivation, and would incur large losses in the event that the drug was once again categorized as a narcotic.

Nunual suggested that any decision regarding cannabis classification should be informed by scientific evidence comparing its harms to those of cigarettes and alcohol. He proposed that if marijuana is found to be less hazardous, similar consideration should be given to reclassifying cigarettes and alcohol as narcotics.

These policy reversals in emerging international markets for marijuana are likely to be of concern to established entities such as Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) that may have been looking for foreign markets to augment their domestic sales.

NOTE TO INVESTORS: The latest news and updates relating to Software Effective Solutions Corp. (d/b/a MedCana) (OTC: SFWJ) are available in the company’s newsroom at https://cnw.fm/SFWJ

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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