The first investor symposium in Hong Kong


Global cannabis companies have arrived in Hong Kong with their own investor forum, and have called on local authorities to legalize the medicinal use of cannabis.

Le Cannabis Investor Symposium (at CannaTech) takes place in Kowloon, with tickets in the amount of 1 000 $ US. Hong Kong attracts 200 entrepreneurs and investors looking to invest in markets where cannabis use is legal. But the authorities quickly put an end to this idea, saying there was no market in the city for this "drug", even for medical purposes...

CannaTech in Honk Kong

Saul Kaye, founder and CEO of iCAN Israel Cannabis is one of the organizers of the event. He states that he wrote to Hong Kong officials a few weeks ago to explain the purpose of the symposium and invited them. But his invitation was rejected massively, without anyone knowing who the authorities concerned were ...

"Cannabis is not a drug. It is an excellent medicine and it is natural. We really started to revolutionize the way we think about cannabis. "Says Kaye.

A forum under close surveillance

Before the forum started, organizers told participants that no cannabis use would be allowed. Cannabis trafficking in the city is punishable by a maximum penalty oflife imprisonment... while for his possession or the simple act of inhaling the substance, can cost up to seven years imprisonment.

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Indeed, cannabis is considered a dangerous drug in Hong Kong.

The Post contacted the Office of Security, the police and the customs authorities. But none of them knew of an invitation to participate in the event. However, the police warned that anyone who sold cannabis in Hong Kong, (even outside the city ...) would commit a crime, while the customs authorities said they would closely monitor any activity of the Cannatech and would take prompt action if necessary.

However, Saul Kaye replies: "We wanted local authorities to be in the room - we want to help them get better regulation - and we want to help them understand that this is not illegal. Because, it's not a black market. "

Mr. Kaye added that the cannabis trade in Canada was worth around 100 billion . And he hoped to attract Chinese investment in these projects. However, the Hong Kong police warned on its website that long-term cannabis users could suffer from endocrine disorders, conjunctivitis, bronchitis and smoking-related diseases ...

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Recall of circumstance

Professor William Chui Chui Chun-ming, president of the Society of Hospital Pharmacists, said that cannabis has medicinal value in the 60 years as an analgesic or anti-vomiting drug.

"Being a natural cure does not mean it is not harmful," Chui said. "Although it can relieve pain and anxiety, it causes a lot of side effects such as increased heart rate and influence on the brain. In addition, it's also addictive. "

The Office of Food and Health has stated that the authority is not able to comment on the issue ...

Tags : BusinessAsia