Armenian Deputy Prime Minister Tigran Avinyan says that the government is thinking of launching a program to grow hemp on large tracts of unused arable land in the country.

Avinyan said as much in a February 12 article referring to the Armenian government’s Economic Response Program to the coronavirus epidemic and the recent war in Artsakh.

Avinyan, according to a statement released by his office, said that the production of industrial hemp could spur agricultural investment in the country where some 40% of arable land goes uncultivated.

He says that hemp is cheap in terms of price, but also a source of high-quality raw materials. It can be used in the textile industry, in the production of paper and construction materials, in the export of crop seeds and oil.

‘We have the opportunity to widely use the experience of other countries, including Russia, the United States, France and China in terms of diversifying our economy and creating attractiveness for investors. The growing demand for manufactured cannabis in the world is undeniable. Its sales amounted to USD 2.76 billion in 2016, USD 5.76 billion – in 2020. The sales are expected to reach USD 15.26 billion in 2027,” Avinyan writes.

He adds that the government will introduce strict, clear regulations, based on international experience, if it launches the program.