Sri Lanka, Aug. 13 -- The government has granted permission to seven foreign investors to legally cultivate cannabis in Sri Lanka for the first time, under strict conditions, former Commissioner General of the Ayurveda Department Dr. Dhammika Abeygunawardena said.

The approval has been granted as a project under the Board of Investment (BoI) of Sri Lanka.

These seven foreign investors were selected from 37 applicants for the cannabis cultivation project, and the BoI has provided them with legal clearance.

In the first phase, each investor has been issued a temporary licence for six months, with the government planning to extend the cultivation period based on progress reports.

As a condition, each investor must deposit a bond of USD 2...