In a move aimed at streamlining Argentina’s booming cannabis industry, the government has stepped in to manage the Regulatory Agency for the Hemp and Medicinal Cannabis Industry (ARICCAME). Through Decree 833/2024, the government has appointed Dr. Ignacio Ferrari as comptroller of the agency, effectively taking control for a year with the possibility of an extension. This intervention stems from concerns regarding the agency’s operational efficiency, including staff shortages, inadequate operations, and significant delays in issuing licenses and permits. This has led to a backlog of unmet demands from private sector stakeholders.
The decree highlights the government’s objective to improve ARICCAME’s effectiveness and align its operations with the goals of Law No. 27,669, which governs the production and commercialization of hemp and medicinal cannabis in Argentina. As comptroller, Ferrari will have broad authority, encompassing reviewing the agency’s organizational structure, accelerating the issuance of licenses and permits, and coordinating with other government bodies and law enforcement to ensure smooth operations. Furthermore, he will have the power to adjust external financing programs and manage the agency’s human resources. The Ministry of Economy will provide support during this period by handling budget execution and financial administration tasks.
The decision to intervene comes after companies and industry stakeholders voiced concerns about delays in licensing and unclear regulatory procedures. With Ferrari’s appointment, the government hopes to revitalize the industry and facilitate the development of new projects, both domestically and internationally. These changes are anticipated to streamline the licensing process and position Argentina as a key player in the regional hemp and medicinal cannabis industries.
The intervention marks a significant step in Argentina’s cannabis journey, aiming to address challenges and unlock the full potential of the sector. It remains to be seen how these changes will impact the industry and what opportunities they will bring for both domestic and international players. For more insights into Argentina’s cannabis industry, explore El Planteo’s CannaB2B event in Buenos Aires on November 4, where sponsorship opportunities are available.
