World Economic Forum (WEF) has just released its 2009 Global Competitiveness Index Report on September 8. Among the 133 economies featured in the report, Taiwan is up 5 positions to the world's 12th -a highest ranking over the recent four years. This year, Taiwan has surpassed Korea to the 4th position in Asia, behind Singapore, Japan, and Hong Kong. Among all the criteria, innovation is one of Taiwan's greatest strengths. This is due to the fact that Taiwan has a solid and comprehensive development in all industries. With a lot of excellent scientists and engineers, and having lots of patent rights, Taiwan is very competitive in this regard. In addition, a close tie between the industry and the academia, an appropriate management of the international logistics and enterprises' emphasis on R&D also account for the sharp competitive edge of Taiwan.
According to Business Environment Risk Intelligence's (BERI) 2010 Risk Assessment on Business Environment, first released in May, Taiwan ranked fourth lowest risk country for investment on business risk assessment for 50 countries around the world rose one notch from its previous rating in December 2009. The BERI report gave Taiwan's business environment a second-best "1B" rating, meaning Taiwan is suitable for investment. Among the three major indexes used by BERI to measure a country's business environment or profit opportunity, Taiwan received its best score of 84 points in the remittance and repatriation index, ranking third in the global rating and second among Asian countries. As Taiwan will sign an economic cooperation framework agreement (ECFA) with China in the near future, the BERI report forecast that Taiwan's 2011 ranking in the political risk index, which comprises external cause, dependence on a hostile major power, negative influence of regional political forces and other factors, will improve from this year's 13th to 12th. In terms of the operations risk index, Taiwan received a score of 67, up one point from the previous rating. Taiwan ranked fifth among the 50 countries assessed in terms of this index, which comprises policy continuity, attitude toward foreign investors, labor cost and productivity, short-term credit, professional services, venture capital and other factors.
According to 2010 IMD World Competitiveness Yearbook, Taiwan has made a dramatic rebound in rankings, jumping to eighth from 23rd in 2009. Taiwan's jump was also the largest recorded among the 58 economies covered in the 2010 IMD rankings. Taiwan's jump in the IMD competitiveness ranking can primarily be attributed to progress in business efficiency and government efficiency. The competitiveness of Taiwan's business sector moved up from 22nd a year ago to third, and government efficiency rose from 18th to sixth, both of which are the best ratings Taiwan has ever received. Moreover, Taiwan's business efficiency got a score of 77.63, only two points lower than the scores of Singapore and Hong Kong. Over time, Taiwan's economic constitution will improve and our competitiveness will be brought to a higher level.
Amid the trend of globalization, many of the world's economies are making efforts to attract foreign investment. The World Bank's Ease of Doing Business index has thus become important reference for both investors who seek international ventures and governments. According to the latest Ease Doing Business 2010 report released on September 9, 2009, Taiwan moves up 15 places from last year to 46th (out of 183) this year-the world's 5th most improved economy. Taiwan gets higher rankings in Starting a Business (11th), Closing a Business (29th), Registering Property (30th), and Trading Across Borders (33rd). It is noteworthy that on Starting a Business, Taiwan makes big progress from 119th position last year to 29th this year, showing that the government's efforts in this area have gained recognition.
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