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October, 28, 2016

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Taiwan institutions lagging in competitiveness report: NDC

TAIPEI, Taiwan -- Taiwan has not performed well in the "institutions " category of the World Economic Forum's (WEF) Global Competitiveness Report over the past five years, the National Development Council (NDC) said.

The "institutions" category rates public institutions, such as ethics and corruption, public trust in politicians, undue influence such as judicial independence.

Corporate ethics and the accountability of private institutions are also gauged.

In the "institutions" category, the ranking dropped to 30th place this year mainly because Taiwan is deemed to have too many administrative laws and regulations, and the government has been spending lavishly. The legal efficiency in solving business disputes and judicial independence also needs to be improved, according to WEF.

In terms of overall ranking, Taiwan ranked 14th place, up one notch from the previous year in the latest competitiveness report released last month.

The WEF assesses the competitiveness of 138 economies based on 114 indicators grouped in there sub-indexes: basic requirements, efficiency enhancers, and innovation and sophistication factors.

To analyze the strengths and weakness of Taiwan's competitiveness, the NDC examined its strong and weak categories in the three sub-indexes over the past five years.

From 2012 to 2016, Taiwan's overall ranking has stayed within the 15th place.

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