Over the past two years, there have been wide-ranging discussions concerning the mega-projects proposed by the government. Although it is not instructive to go into the details of each of these projects here, it is sufficient to say that, as a general principle, the government should be prudent and far-sighted. As mentioned earlier, His Majesty has suggested that one should invest carefully, only build factories of an appropriate size, and not over-extend oneself. So for these large-scale public investment projects, the government should ask whether these projects are sound, generate adequate return in the long run, and do not overly expose our fiscal position. The government should only undertake those projects that satisfy these criteria.
Moreover, the government, in designing its policy and its projects, should put more emphasis on the importance of building in incentives to encourage behavior consistent with Sufficiency Economy Philosophy. In fact, since the market system already provides many opportunities for people to be materialistic, the government should refrain from so doing.