Marijuana Business Magazine September 2019

Marijuana Business Magazine | September 2019 86 How can businesses work with governments to advance or improve regulations for cannabis? The “how” is a complicated question, but the “must” is necessary to building healthy industry and healthy economic sectors. Usually, governments do not know much about business, markets, products and especially cannabis, which is so new. So we must connect with authorities. We must influence their decisions, because once they make a decision, they convert that decision into public policy, or even a law going through Congress. And then it’s very difficult to change. So, at the very beginning, we should approach authorities in every new market we enter and try to be part of forming of the industry and public policies. USING REGULATORY DELAYS TO GET PREPARED Vincente Fox By Matt Lamers & Former Mexican President Vicente Fox shares how lack of regulations can hinder market opportunities F or years, former Mexican President Vicente Fox was bullish on launching a legal medical marijuana market in the country he led for half a decade. And now? He’s less optimistic. “I moved from very optimistic time-wise to neutral, because I don’t see things happening. But it will happen very soon. I don’t have any doubt,” Fox said. The former president has had a sour taste in his mouth since earlier this year, when the current government revoked key industry guidelines used to issue dozens of medical licenses. Among the permits scrapped was one held by the Mexican subsidiary of Khiron Life Sciences—one of the companies where the former president sits on the board of directors. Fox—also a former CEO of Coca-Cola Latin America—said the lesson businesses and regulators can take away from the experience is the importance of maintaining constructive communication to make sure successful legislation is converted into successful public policy. Marijuana Business Magazine caught up with Fox in Toronto to discuss how (and why) businesses should be active participants in drafting rules for Latin America’s heavily regulated cannabis sectors. Growing Momentum