Taiwan has been ranked 14th in global competitiveness by the International Institute for Management (IMD) for 2017. The country held the same position as last year.
Taiwan was rated 14th out of the 63 economies covered by the annual report. It ranked third among Asian economies, behind Hong Kong and Singapore.
This year, Taiwan placed 12th in economic performance, up three places from last year, and 15th in business efficiency, up one place.
The country's ranking in government efficiency fell one place to 10th. Responding to the decline, the economics ministry said the government will continue its deregulation efforts to reduce investment barriers to attract more foreign investment.
In the new World Digital Competitiveness Ranking introduced by the IMD this year, Taiwan was ranked 12th worldwide and third in Asia.
Source: Radio Taiwan International