Reported 8 months ago
The 2024 IMD World Competitiveness Yearbook, just released on June 18, 2024, shows Taiwan dropping in three out of four indicators, especially in 'economic performance,' falling to 26th place, a significant drop of 20 spots in three years. The National Development Council (NDC) attributes this decline to the global high inflation and high interest rate environment in 2023 leading to weak end demand, continuous inventory adjustments in the domestic manufacturing sector affecting exports, and a conservative investment momentum by companies. NDC emphasizes efforts to develop the semiconductor, AI, and other industries, strengthen talent development, attract international talent, promote innovation and entrepreneurship to consolidate Taiwan's advantageous position in global competition.
Source: YAHOO