Taiwan ranks 11th in competitiveness

In the Switzerland-based IMD World Competitiveness Yearbook 2015, released May 27 this year, Taiwan ranked 11th out of 61 economies surveyed, an improvement of two spots from last year. In the Asia-Pacific region, Taiwan placed third, after Hong Kong and Singapore.
Among the four main factors in IMD valuation, Taiwan improved in three compared to last year. It returned to the top 10 in government efficiency, rising from 12th to ninth. In economic performance it advanced from 14th to 11th, and in business efficiency it edged up from 17th to 14th. However, in infrastructure development it slid one spot, from 17th to 18th.
Among the sub-factors, Taiwan performed exceedingly well in domestic economy, rising dramatically from 21st to ninth, demonstrating the nation’s better performance than many other economies in real gross domestic product (GDP) growth, real GDP growth per capita, resilience of the economy to economic cycles, and economic diversity.
In fiscal policy, the country maintained its fourth-place ranking. This is due in large part to its effective personal and business income tax rates, which are relatively lower than other countries’, reflecting the good results of the government’s administrative streamlining and light taxation policies.
As for criteria under the sub-factors, Taiwan scored highly in small and medium-sized enterprise development, high-tech exports, number of patents in force, and public and private scientific research.
Source: http://www.ey.gov.tw/en/Link_Content.aspx?n=E8596CCA0ACD122A&s=73AA4CD2EB7BB24C


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