The World Economic Forum (WEF) released its Global Competitiveness Report 2013 on Sep. 4, 2013. Taiwan retained its 12th ranking among the 148 countries/economies and ranked 4th among all Asian economies covered in the report.
Furthermore, Taiwan managed to remain within the world's top 10 percent, indicating its competitiveness remains solid amid signs of a slowdown in the global economic recovery.
According to the second 2013 "Report on the Evaluation of Environmental Risks of Investment," issued in August by Business Environment Risk Assessment (BERI), Taiwan's Profit Opportunity Recommendation (POR) ranks third in the world with a score of 73, the same as in the previous report. Of the 50 countries covered by BERI, Taiwan ranks behind only Singapore and Switzerland.
Taiwan's POR is given a rating of 1B in the latest report, and BERI's recommendation to investors is to increase their investment commitment. The report noted that Taiwan is continuing to reinforce its external economic relationships, especially through free trade agreements (FTAs), and that relations across the Taiwan Strait will remain amicable for the next five years. Taiwan is expected to maintain its ranking of 3rd in the world in 2014, with its overall score rising to 74. The ranking and score are expected to remain the same in 2018.
Taiwan's performance on the Operations Risk Index is outstanding in the latest report, ranking 2nd in the world (same as the previous report) after Singapore. BERI points out that Taiwan has announced new government plans to increase biotech investment by 25% over the next three years. Domestic banks are working vigorously to expand their overseas markets, and the island's banking industry will continue to expand over the next two years. BERI predicts that Taiwan will tie with Singapore for 1st place in the global operating risk ranking in 2014, and that it will be in 2nd place in 2018.
Taiwan's political risk ranks 8th lowest in the world (compared with 7th-lowest in the previous report) and 2nd-lowest in Asia, higher only than Singapore, Switzerland, Austria, Norway, Holland, Finland, and Germany. BERI believes that Taiwan's political risk rating will continue to improve, reaching 7th-lowest in the world in 2014 and 6th-lowest in 2018.
In terms of BERI's Risk and Repatriation Factor Taiwan is 2nd-best in the world (same as in the last report), after Holland. BERI points out that this outstanding performance is due to Taiwan's strong trade and current account surpluses. In the first half of this year the island's trade surplus amounted to US$14.611 billion and the current account surplus for the year is forecast to reach US$53.5 billion, topping 2012's US$48.882 billion. In BERI's analysis, Taiwan's excellent operating environment helps attract foreign direct investment (FDI); foreign investment in the island reached US$1.822 billion in the first five months of this year (with the Ministry of Economic Affairs approving 1,220 FDI projects), for a growth of 26.9% compared with the same period of 2012. BERI predicts that in 2014 and 2018, Taiwan's Risk and Repatriation Factor will maintain its position as 2nd-best in the world.
According to the 2012 World Competitiveness Yearbook unveiled by IMD, Taiwan ranked 7th in terms of competitiveness among the 59 countries surveyed and was the 3rd place in Asia, next only to Hong Kong and Singapore. Of the four major indicators, the Taiwan government's efficiency ranked 5th among the 59 economies listed by the yearbook, up sharply from 10th place in 2011 and better performances in health and the environment, education, and scientific development pushed Taiwan to 12th from 16th in 2011 in terms of infrastructure. Besides, according to the IMD's World Competitiveness Yearbook 2012, Taiwan scored 7.67 in the entrepreneurship category on a scale of one to ten. That is, Taiwan has the world's best entrepreneurial society, up three places from last year and the best ranking the nation has received since 2001, indicating Taiwan's entrepreneurs has outstanding performance on coping ability while suffering from the financial crisis.
Taiwan was rated the world's 16th-easiest place to do business in a World Bank 2014annual report released Oct 29th 2013. Eleventh in a series of annual reports comparing business regulations in 189 economies, the World Bank's "Doing Business 2014" report measures regulations affecting 10 areas of everyday business activity -- starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers.
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