The initiative aims to tap into the global demand for medicinal and allied products derived from cannabis.

The move comes into light after the Cabinet Co-Spokesman and Minister Bandula Gunawardena on 6 February 2024 dismissing claims that a proposal had been presented to the Cabinet of Ministers on cultivating cannabis for export purposes.

The projects will fall under the joint oversight of the Board of Investment of Sri Lanka (BOI) and the Department of Ayurveda (DOA).