An increasing number of countries around the globe are modernizing their policies and regulations that govern their domestic industrial hemp industries, with the latest example coming in the United Arab Emirates.

“The UAE Government has issued a Federal Decree-Law regulating industrial and medical uses of industrial hemp, establishing a new economic sector and paving the way for a promising market aligned with international best practices to support sustainable economic development, enabling its use in several industries including: textiles, construction and paper and packaging, as well as in the manufacture of legally authorised medical products.” the nation’s government stated in a news release (translated to English).

Humans have made use of the hemp plant for thousands of years, and it was only in the last 100 years or so that governments have moved to prohibit people from harnessing its benefits. The hemp plant is arguably the most versatile plant on the planet.

The UAE’s new decree helps move the nation forward to a degree, but it still keeps many limitations in place as well.

“The Decree-Law prohibits the personal or recreational use of industrial hemp. This includes the import, manufacture, or use of industrial hemp products related to food products, dietary supplements, veterinary products, and smoking products or any other products specified by Cabinet decision.” the UAE government stated.

“The Decree-Law also prohibits the import, manufacture or use of cosmetic products containing industrial hemp, except for those that contain oils extracted from industrial hemp seeds or stalks and any other exceptions determined by Cabinet decision, taking into account that any compounds that may directly or indirectly produce a narcotic or psychoactive effect, will be subject to the provisions stipulated in this Decree-Law, the laws of crimes and penalties, the laws combating narcotics and any other related laws.” the government also stated.

Due to those limitations, only time will tell how big the UAE’s industrial hemp industry may become. As part of his presentation at the International Cannabis Business Conference in Berlin earlier this year, economist Beau Whitney of Whitney Economics projected that the value of the global industrial hemp industry could be as much $456.2 billion if larger industries fully incorporated hemp into their business models.