Nearly matured medical marijuana plants grow in a climate controlled growing room.
Investors in medical cannabis projects are focusing on Greece, where a warm, sunny climate and potentially favorable future legislation could help the government deliver on a promise to pull the country out of a seven-year economic crisis.
Growers have expressed interest in pumping more than 1.5 billion euros ($1.74 billion) into projects to build greenhouse parks for the cultivation and manufacture of cannabis, Evangelos Apostolou, minister of rural development and food, said in an interview. That would give Greece a share of a global market the government says could be worth 200 billion euros in the next 10 years.
Prime Minister Alexis Tsipras is counting on investment to spur economic recovery and allow the country to exit a third bailout program. Forecasts call for growth close to 2 percent this year, rising to 2.5 percent in 2018.
A single campus of 12 to 15 cannabis greenhouses could create 400 jobs, according to a task force preparing a draft bill to legalize medical cannabis in Greece. Unemployment in the