Kobkarn Wattanavrangkul, Vice Chair of the Thai Chamber of Commerce (TCC), underscoring the relevance of King Rama IX’s Sufficiency Economy Philosophy (SEP) in society today, says it is not about ‘settling for less’ but about achieving sustainable, inclusive and enduring growth.
In a speech titled ‘Adaptation. For a Better World’ at the Sustainability Expo 2025 (SX2025) on Wednesday, Ms Kobkarn said the SEP is not reserved for corporations alone. Rather, it is a guiding principle for businesses, communities and individuals alike, she added.
She noted that the SEP has often been misunderstood. For years, some critics have assumed that the philosophy discourages economic progress, equating sufficiency with complacency, she said.
‘This old belief misled people into thinking SEP would never bring wealth,’ she said. ‘But in reality, SEP is about balance – growth that is sustainable, inclusive and enduring. Foreigners believe in Thailand – why don’t we?’
The sharing session that followed also featured international perspectives.
Vibeke Lyssand Leirvag, a Norwegian entrepreneur and Vice President of the Thai-Norwegian Chamber of Commerce, described how the SEP values shaped her jewellery company.
By prioritising employee well-being and transparency, the business scaled significantly while retaining a small team of 36 Thai staff, she said.
She encouraged companies in all sectors to embrace the SEP step-by-step: ‘Celebrate every little win. Invest in your people. Don’t expect overnight millions – you’ll lose them just as fast.’
Lester Khoo, International Affairs Director of Charoen Pokphand Foods, who hails from New Zealand, explained how the SEP aligns with the CPF’s role as a ‘sustainable kitchen of the world’.
Operating in 17 countries and feeding 4 billion people, the company follows three SEP-inspired principles: loyalty to the nation, benefit for the people and profit for the company, Mr Khoo said.
‘Moderation is key,’ he said. ‘Sustainability requires balance between business and nature.’
Another highlight of SX2025 was the session titled ‘Business Models Inspired by the Philosophy of Sufficiency Economy: Practical Applications and Sustainable Success’.
There, Ms Kobkarn introduced Sirikul Laukaikul, brand strategist and founder of Por Laew Dee: The Creators Project on the SEP, who emphasised that SEP is not limited to agriculture but can be adapted to any business model.
Several Thai entrepreneurs also showcased their success stories.
‘Penguin Eat Shabu’, founded by Thanapong Wongchinsri, shifted from competition to collaboration by creating Penguin X, a platform linking restaurants with academic partners.
Khao Thammachad, led by Chinnasri Phoolra-ao, built partnerships with bakeries to ensure fair incomes for rice farmers through transparent cost management.
Onson, founded by Thamwit Limlertcharoenwanich, transformed rice into a premium local liquor while reusing waste for cattle feed and reducing greenhouse gas emissions.
Biovech, created by Pawarith Raksaswaphokin, worked with communities in Nan to develop herbal-based cosmetics, creating over 200 jobs and attracting major brands.
As Thailand navigates economic challenges, Ms Kobkarn emphasised, responsible personal spending and a balanced approach are key to sustaining livelihoods and ensuring long-term growth.
‘Growth must be balanced and shared with all people,’ she said, calling on the younger generation to carry the Thai identity proudly into the global arena.
Echoing her remarks, Ms Sirikul added: ‘The king’s philosophy is not just guidance – it is practical know-how that has enabled Thailand to overcome challenges time and again.’