Thailand’s newly appointed Prime Minister, Srettha Thavisin, expressed his opposition to the recreational use of cannabis in a recent interview. However, he affirmed that his administration would maintain policies supporting the medical use of cannabis. Thailand made history as the first Southeast Asian country to decriminalize cannabis last year, although subsequent regulations were swiftly introduced to control potential misuse, particularly concerning children.
Srettha, a member of the Pheu Thai party, which leads an 11-party coalition government since assuming power in August, emphasized a focus on medical cannabis and rejected recreational usage. The coalition, including its significant partner, the Bhumjaithai party, staunchly advocates for medical applications of cannabis.
Thailand’s cannabis industry is predicted to burgeon and reach a value of up to $1.2 billion in the coming years, with numerous businesses sprouting in popular tourist destinations. Srettha underscored the necessity of addressing drug abuse in the country and stressed the medical utilization of cannabis to mitigate this issue.
As part of his economic agenda unveiled earlier in the week, Srettha, who also serves as the finance minister, plans to stimulate consumption and spending to invigorate the nation’s recovery. He introduced a targeted policy involving a 10,000 baht ($282.09) giveaway via a digital wallet to all Thai individuals above the age of 16, amounting to 560 billion baht. This initiative is anticipated to commence in February and is designed to substantially boost domestic spending.
Looking ahead, Srettha aims to attract foreign investors during meetings with business leaders in New York while attending the U.N. General Assembly meetings later this month.
