H.E. Ambassador Somchai Charanasomboon, Ambassador of Thailand to Sweden gave an opening speech at a conference on “Sufficiency Economy: Thai Wisdom towards Sustainable Development”, organized by University of Thai Chamber of Commerce at Östasiatiska Museet, Stockholm on 22 October 2013. The aim of the event was to understand the practice of sustainable development, sharing diverse points of view and establishing a dialogue between Asia and Scandinavia.

     H.E. Ambassador Somchai explained that the philosophy of Sufficiency Economy is the Royal Initiative of His Majesty King Bhumibol Adulyadej to Thai people since the 1950’s. It is a method of development based on moderation, prudence, and social immunity, one that uses knowledge and virtue as guidelines in living. Significantly, there must be intelligence and perseverance which will lead to real happiness in leading one’s life. This philosophy could serve as a guideline, not only for the way of living, but it is also universal applicable, including business organizations.