One aim is to attract foreign tourists, who have recently begun returning in large numbers, to a well-regulated medical and wellness industry.
Certain rules will still apply, although the authorities have not specified how these will be monitored.
Firstly, the plants will have to be of medical grade and used only for medicinal purposes.
While possessing and using all parts of cannabis plants, including flowers and seeds, will be allowed, extracted content will remain illegal if it contains more than 0.2 per cent of the psychoactive ingredient that produces a “high” — tetrahydrocannabinol, or THC.
Additionally, cannabis grown at home cannot be used for commercial purposes without further licences, although the authorities have not specified how they will monitor the new rules.
The Food and Drug Administration had already received about 4,700 applications by late last month for licences to import, possess, grow and produce cannabis and hemp, the Bangkok Post newspaper reported.