BAKU, Azerbaijan, Apr. 20
By Klavdiya Romakayeva - Trend:
California-based Vics company received a contract to build a state-of-the-art CBD (cannabidiol) farm in Uzbekistan to grow and distribute CBD products to the European and Asian markets, Trend reports with reference to Uzbek media.
The CEO and founder of Vics Kyong Lae Kim said it was a project that more than 20 companies wanted to work on. “We intend to create a standard for the creation of large-scale cannabidiol production in Uzbekistan and to disseminate this model,” he said.
It is reported that Vics recently sold 19.9 percent of Transcendence, another US company, which in turn is a subsidiary of Pervasip Corp. - a large corporation whose shares are traded on the stock exchange.
According to the President of Transcendence Cesar Herrera, the company plans to work closely with the Uzbek government to help create legislation related to the cultivation and processing of cannabidiol.
“Uzbekistan is at the initial stage of market development, so we will take a strategic position to create infrastructure,” he explained.
It was noted that Vics and Transcendence will share all income and expenses for the project in Uzbekistan.
Earlier it was reported that companies from France, Turkey, and Malta have already shown interest in growing technical hemp in Uzbekistan as well.
It was reported that such an active interest among foreign investors is due to the fact that more than 30,000 items of various products can be produced from industrial hemp.
At the same time, the marginality, for example, of food products made from hemp is the lowest in the sector, but it is also the least expensive and has the widest circle of consumers.
At the same time, as experts note, the psychotropic effect is clearly manifested somewhere starting from 20 percent of tetrahydrocannabinol in the plant.
According to the information, cannabis with 0.2 percent tetrahydrocannabinol, which is allowed to be used in Uzbekistan, is suitable for obtaining oil, textiles, cellulose, and so on, and is completely unsuitable for intoxication.
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