The improvement came as the Asia-Pacific region emerged as a beacon for competitiveness, with 11 out of 14 economies either advancing or holding their ground, the 2019 IMD World Competitiveness Ranking found. The center grades 63 economies based on their economic performance, government efficiency, business efficiency and infrastructure. Business efficiency climbed from 20th place to 14th, as companies reported progress in productivity, asset management, operations and working conditions, the report said. Taiwan’s infrastructure ranking advanced from 22nd place to 19th, due to the building of technology infrastructure as evidenced by its global leadership in cybersecurity, high-tech exports and the use of smartphones. Regionally, Taiwan lags behind Singapore (1st), Hong Kong (2nd) and China (14th) in terms of competitiveness ranking, but was ahead of South Korea (28th) and Japan (30th).

Source: Taipei Times May 29, 2019 15:56 UTC