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Taiwan 13th in WEF global competitiveness report

Taiwan has been ranked the world’s 13th most competitive economy in the World Economic Forum’s 2018 economic competitiveness report. The report surveyed the strengths and weaknesses of 140 economies around the world. Taiwan ranked fourth among Asia-Pacific economies, after Singapore, Japan, and Hong Kong.

In a Facebook post Tuesday, Premier William Lai hailed Taiwan’s performance in the report. He noted that Taiwan ranked among the top ten economies in 18 of the 98 criteria used to evaluate competitiveness. Taiwan placed first in the area of macroeconomic stability, tying with 30 other highly stable economies. Lai said Taiwan’s performance in this area shows the government’s effective work at maintaining stable prices and fiscal management.

Taiwan also placed fourth in the area of innovation capability. It was one of the four economies the report called a “super innovator,” alongside Germany, the US, and Switzerland. Lai said the report shows Taiwan’s economic fundamentals are good, and that its financial environment is stable and good for investment.