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4 Mar, 2016

Thai King’s Sufficiency Economy Seen as an International Development Model

Bangkok, Thailand, 2 March 2016, (Thailand PRD News) -Prime Minister General Prayut Chan-o-cha stated that Thailand has adopted His Majesty the King’s Philosophy of Sufficiency Economy as a guideline for development, with the people at the center, for more than 40 years.

The Prime Minister highlighted Thailand’s experience in practicing the Philosophy of Sufficiency Economy, in his speech on 29 February 2016 at the G-77 “Bangkok Roundtable on Sufficiency Economy: An Approach to Implementing the Sustainable Development Goals.”

He cited people as the most important driver for development. If people are strong, their families, communities, and nations will become strong, as well. Thailand has experienced several crises, such as the 1997 Asian financial crisis, the 2004 Indian Ocean Tsunami, and the 2007 global financial crisis. With the application of this philosophy, it was able to recover from the crises very quickly.

Sufficiency Economy focuses on three components: reasonableness, moderation, and self-immunity. It also needs two other conditions – knowledge and morality. This concept will lead to sustainable development that will not be at the cost of future generations.

The Prime Minister said that Sufficiency Economy is not an instant development model. It could be adapted to different geographical and social conditions. Thailand has been sharing its experience in the application of Sufficiency Economy through cooperation frameworks with various countries, such as Lesotho, Timor-Leste, Cambodia, Myanmar, Lao PDR, Indonesia, Afghanistan, Jordan, Senegal, and Mozambique.

He explained that the Philosophy of Sufficiency Economy is based on His Majesty’s concept of “explosion from within.” The concept emphasizes community development that strengthens the community to the self-supporting level. The objective is to enable the community to have enough to live on.

This philosophy has spread to more than 25,000 villages nationwide and helps create community enterprises, community businesses, and cooperatives, as well as adding value to local products.

According to the Prime Minister, Thailand believes that the Philosophy of Sufficiency Economy is an international model that is applicable at every level, not only in the agriculture sector or in rural areas. This approach can be applied by everyone in their daily life.

Thailand also believes that Sufficiency Economy is in line with the 2030 Agenda for Sustainable Development and will contribute to efforts to achieve the United Nations’ Sustainable Development Goals.