The World Economic Forum (WEF) released its Global Competitiveness Report 2018 in October, 2018. Taiwan placed its 13th ranking among the 140 countries/economies and ranked 4th among all Asian economies covered in the report, finishing behind Singapore, Japan and Hong Kong, but ahead of Australia, South Korea and New Zealand.
Taiwan placed 13th overall out of 140 nations in the latest Global Competitiveness Report released by the Geneva-based WEF. The report, which measures competitiveness using 98 indicators grouped into 12 pillars, placed Taiwan in the top 10 in 18 indicators and first in the “macroeconomic stability” pillar. This showed Taiwan government's effectiveness in maintaining price stability and fiscal management and the stable financial environment is favorable for investment. Taiwan also ranked fourth worldwide and first in Asia in the “innovation capability” pillar, earning recognition from the WEF as a “super innovator. The report indicated that the policy of optimizing the environment for investment in innovation and startups and promoting innovative industries was a success.
The GEDI, first compiled for 2011 by the Global Entrepreneurship and Development Institute, measures and ranks the global entrepreneurship. According to the preliminary GEDI 2018 report published in November 2017 by the Global Entrepreneurship and Development Institute, Taiwan took 16th place among 137 countries. Overall, the United States dominated the 2018 index, and its score is 83.6. The index placed Taiwan third in Asia behind of Australia and Hong Kong, but ahead of Singapore, Japan, South Korea, and China.
In its second "Report on the Evaluation of Environmental Risks of Investment" for 2018, Business Environment Risk Intelligence (BERI) ranked Taiwan's "Profit Opportunity Recommendation"third-best among the 50 major countries covered, after only Singapore and Switzerland and tied with Germany and Norway for third place.
According to the IMD World Competitiveness Yearbook 2018, Taiwan ranked 17th in terms of competitiveness among the 63 countries surveyed. A perusal of this year's IMD World Competitiveness Yearbook shows that Taiwan ranked 10 in the category of government efficiency, showing that the government's low-tax, low-regulation approach has paid off.
Taiwan was rated the world's 15th-easiest place to do business among 190 economies in a World Bank "Doing Business 2019" released Oct 31st 2018. According to the World Bank's report this year, the 10 criteria of Taiwan are listed as follows: dealing with construction permits(2), getting electricity(8), enforcing contracts(11), protecting minority investors (15), registering property(19), starting a business(20), resolving insolvency(23), paying taxes(29), trading across borders(58), and getting credit(99). The report showed that “paying taxes” ranked 29th in the world and its progress is the largest with 27 places upgrade. The main reason is because of the review time of Profit-seeking Enterprise Income Tax and the shortened time of Business Tax refund. The Economist Intelligence Unit forecasts Taiwan's business environment to be 14th best in the world during the 2014 – 2018 period.
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Department of Investment Services, Ministry of Economic Affairs, R.O.C.
Department of Investment Services, Ministry of Economic Affairs, R.O.C.