Taiwan is ranked 15th among 190 economies and seventh in the Asia-Pacific, according to the Doing Business report released Oct. 24 by Washington-based World Bank.
Scoring 80.9 out of 100, Taiwan finished ahead of regional neighbors Thailand, 21st; Japan, 29th; and China, 31st, but trailed New Zealand, first; Singapore, second; Hong Kong, third; South Korea, fifth; Malaysia, 12th; and Australia, 14th.
Of the report’s 10 assessment categories, Taiwan fared best in Dealing with Construction Permits, sixth globally. It also performed well in Getting Electricity, ninth; and Enforcing Contracts, 11th.
In response, the Cabinet-level National Development Council said the government is enhancing Taiwan’s business environment through such measures as easing regulations on company registration and recognition, as well as streamlining application procedures.
First released in 2003, the annual report is widely considered a reliable measure of how regulations affect small and medium enterprises based on standardized case scenarios in the largest business city of each economy. (Ray-E)
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