Taiwan is located at the heart of the Asia-Pacific region, which puts it in an advantageous position to make use of global production resources and marketplace. Taiwan's north is the world's 3rd largest economy-Japan, its south are the 10 countries of the Association of Southeast Asian Nations and India. Taiwan's east is the world's largest economy-the US, and its west is mainland China-the world's 2nd largest economy and the center of the world's economic growth. The average flying time from Taipei to the seven major cities (Hong Kong, Shanghai, Manila, Seoul, Tokyo, Singapore and Sydney) in Western Pacific is merely 2 hours and 55 minutes. And the average sailing time from Kaohsiung harbor to the 5 major Asia-Pacific harbors is merely 53 hours. Taiwan is the hub of Asian transportation and the logistic center in the East-Asian region.
Taiwan's investment environment scores highly in numerous international rankings. In the “Global Competitiveness Report 2018,” issued by the World Economic Forum, Taiwan ranks 13th out of 140 economies. In the second “Business Environment Risk Intelligence” report of 2018, Taiwan ranks as the world's 3rd best investment destination, trailing only Switzerland. According to the 2018 World Competitiveness Yearbook unveiled by IMD, Taiwan ranked 17th in terms of competitiveness among the 63 countries.
Taiwan has been ranked 1st in quality of life and the 2nd best place for expats overall in InterNations' Expat Insider report for 2018.
In addition, in the World Bank's “Doing Business 2019” report, Taiwan ﬁnished 13th out of 190 economies for ease of doing business. The Economist Intelligence Unit forecasts Taiwan's business environment to be 14th best in the world during the 2014 – 2018 period.
Manufacturing and high-tech industries drive economic development in Taiwan. The output values of many Taiwanese products and industries, such as semiconductor, optoelectronic, information, and communication products account for more than 70% of the global market share. The production value of circuit wafer OEM make up 67.4% in the world. These sectors and the assembly and testing sector are all ranked No.1 in the world. The production values of Taiwan's IC design, account for 21.5% in the world, and those of the TFT-LCD are in the second place in the world. Its PC production value is 3rd.
In conclusion, the international ranking reports show that Taiwan's business environment remains as excellent as it is now. Looking toward the future, Taiwan will continually create a better, friendlier environment, more conducive to business.
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