The Thai government and private sector are working in tandem to boost consumer spending, push through large-scale infrastructure projects and promote clusters of high value-added industries.
For decades, the Anglo-Saxon economic model has increasingly disenchanted the developing world. It has found the overemphasis on financial indicators and the lack of regard for people, the land and water, health and culture run counter to the long-term interests of society.
A shift towards recognising the interdependence of an economy’s various actors has been ongoing. In many ways, Thailand has been ahead of this curve and has taken up a leadership role globally, as it recognised early the possibility that other, superior ways of organisation may exist.
The results of the first survey conducted by Oxford Business Group (OBG) on the practical implications of Thailand’s Sufficiency Economy Philosophy (SEP) – which places sustainability at the core of its thinking, advancing a different approach from that of short-term, shareholder value-centred ideas of economic development – reveal a great deal of interest from both local and international companies in applying the philosophy’s principles to their day to day business.