Taiwan has placed 11th in the International Institute for Management and Development (IMD) 2015 global competitiveness report. That’s up two places from 2014.
Taiwan ranked third in the Asia-Pacific, after Hong Kong and Singapore. Taiwan also ranked 11th among the major economies with a population of over 20 million.
Among the four major indicators analyzed in the report, Taiwan's government efficiency edged up three places to 9th among the 61 economies covered in the yearbook.
Economics Minister John Deng said that the improvement in government efficiency is due to Ma administration’s efforts to raise transparency and public involvement.
The top 10 places in this year’s competitiveness report went to the United States, Hong Kong, Singapore, Switzerland, Canada, Luxembourg, Norway, Denmark, Sweden and Germany.