Taiwan: Business outlook

Taiwan: Business outlook. Check it out:
(EIU Viewswire Via Thomson Dialog NewsEdge) COUNTRY VIEW

FROM THE ECONOMIST INTELLIGENCE UNIT

Business environment rankings(a)Value of index(b)Global rank(c)Regional rank(d)2001-052006-102001-052006-102001-052006-10Overall position7.508.05211955Political environment7.27.2222555Political stability7.07.0363975Political effectiveness7.47.4172044Macroeconomic environment8.38.6181243Market opportunities5.86.74326108Policy towards private enterprise & competition7.58.0192255Policy towards foreign investment7.88.2242155Foreign trade & exchange controls7.38.2413598Taxes8.48.46533Financing7.48.9241955The labour market7.27.4141645Infrastructure8.28.9181664(a) See Guide to the business rankings model at the end of this report. (b) Out of 10. (c) Out of 82 countries. (d) Out of 17 countries: Australia, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.Taiwans overall score in the Economist Intelligence Units business environment rankings rises to 8.05 in the forecast period (2006-10) from 7.5 in the historical period (2001-05). As a result of this improvement, Taiwans global rank rises slightly, from 21st place in the past five years to 19th in the forecast period. Taiwans regional ranking remains unchanged at fifth place.



The improvements in the business environment during the forecast period will be driven in a general sense by implementation of market-opening measures associated with Taiwans accession in 2002 to the World Trade Organisation (WTO). The Democratic Progressive Party (DPP) government, led by Chen Shui-bian, Taiwans president since 2000, has also been keen to liberalise the economy and improve the quality of regulation. It has outlined ambitious plans to upgrade Taiwans infrastructure. However, the DPPs failure to secure a majority in the Legislative Yuan (parliament) in the 2004 elections will continue to hamper implementation of the governments legislative agenda. A government freed of such impediments would, however, not be entirely good for business. A DPP lacking the constraint of having to reach consensus with the largest opposition party in parliament, the Kuomintang (KMT, Nationalists) might, for example, raise taxes to reduce the fiscal deficit. It might also seek to increase social spending. (The KMT has traditionally supported lower taxes.)

Copyright 2006 Economist Intelligence Unit
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