Nation still rated as one of the most competitive in Asia in WEF report
Although a recent report by the World Economic Forum (WEF) indicates that Taiwan has slipped one place to rank as the 15th-most competitive economy in the world, it is still one of the most competitive economies in Asia and has managed to increase its score, said Attilio Batista, an economist at the forum.
According to the WEF, Taiwan’s competitiveness ranking fell one notch to 15th but it still remained fourth in the Asia-Pacific region.
Batista said Taiwan is still one of the most competitive economies in Asia, even though it grew at a slower pace than its peers in the top 20 in the previous year. He also praised the improvement in the country’s macroeconomic environment and the functioning of its labor market.
However, he pointed out that if the nation could increase women’s participation in the labor force — which currently ranks 79th out of 140 countries at the WEF — the labor market would work even more efficiently.
In terms of Taiwan’s institutions, which is another key determinant of competitiveness, Batsita said there remains room for the country to improve the efficiency and independence of its judicial sector, which rank 56th and 47th, respectively.
The WEF assesses the competitiveness landscapes of 140 economies, providing insights into the drivers of their productivity and prosperity. months drops to NT$21.74, there should be a first wave of price cuts. If the average price falls to NT$16.23, a second wave of cuts is required.
Domestic air fares were March, when the average dropped to below NT$21.74. last lowered in price of jet fuel