Source: Lebanese Presidency’s website
President Aoun discussed the Regie’s progress with its Head of the Board Eng. Nassif Seklaoui and Board’s members Georges Hobeika, Issam Sleiman, and Mazen Abboud. Seklaoui thanked Mr. President for the support he provides for the Regie. Seklaoui acquainted the President with the Regie’s achievements during the last few years, among which the innovation of the best electronic archiving system among Lebanese public institutions, and the adoption of mechanization and transparency in term of information access. He added that the Regie is the only Lebanese Public Institution to be granted the ISO 2015, for three consecutive years. He underlined that his institution has acquired international credibility, which encouraged international tobacco companies to entrust it to produce their brands.
Eng. Seklaoui ensured that the Regie is the first public institution to submit a financial auditing by international firms, which provided the National Treasury last year with more than $450 million in revenues, achieving an exceptional experience of cooperation with the private sector.
Moreover, the Regie lunched a sustainable development plan for the next ten years. The First National Anti-Smuggling Conference, which was held lastzation of hemp in Canada and China has led to increased production. The legislation of the 2018 Farm Bill Act allowed hemp cultivation in the United States of America, which resulted in the creation of a larger market that serves as a major global importer. Hemp has replaced soy, cotton, and
canola because of its fast growth, pollution reduction, and low water requirements. Its fibers, seeds, and flowers are all utilized. Its cultivation is expanding in China. Today, its prices have decreased by 94% compared to 2019.
This is what makes
McKinsey's estimates forty-two million dollars today, assuming that all other factors remain constant, all assumptions are accurate and the study's foundations are solid.
The Regie is collaborating with
LAU (Lebanese American University) to complete a feasibility study based on reliable data, considering both constants and variables. Additionally, it is important to determine where investment should be directed, whether in fibers, flowers, or seeds, and for what purpose.
In "Toward a Regulatory Framework for the Legalization of Hemp",
Philippe Cyrenne and Marian
Shanahan (2018) emphasized the necessity of understanding the market and the regulatory frameworks of the relevant state.
Therefore, it is essential to first study governance, regulation, and oversight. Secondly, consider the costs of social exchange. Thirdly, ensure the quality of contract enforcement and penalties. The hemp market is evolving with lower prices and costs, increasing quantities, improving quality, and the disappearance of institutional obstacles. Economic feasibility and profitability will determine the advantages of countries in producing it. We thank President
Berri for his support in supporting the correction of its course to serve the economy and the people. However, there are political, legal, and tax challenges that must be addressed. The challenge is to prevent markets from getting out of control again and for the costs to not outweigh the benefits. This sector should not be liberalized as some suggest. The approach to this issue should be precise in a country where its market is influenced by gangs who thrive on extorting and blackmailing entrepreneurs. We await the results of a study on a plant that will hopefully establish new regulations amid the deterioration of governance, the judiciary system, and the unrestrained thirst of gangs and their "tensions." Can
CBD alleviate inflammation, anxiety, and tension for a frustrated society, and can
THC calm the madness and provide relief for those drowning in despair? People are starving in Africa while Americans are obese. Lebanese die from car accidents, excessive alcohol consumption and smoking.
The role of governments is to intervene in regulating markets by raising awareness, imposing taxes, ensuring quality control, curbing black markets, and suppressing gangs that hinder growth.
The study will be completed, but will the project of establishing a state that develops and regulates markets be completed?