JEDDAH, 9 February 2005 — Taiwan has ranked 21st in 2004 in terms of competitive potential, according to the results of a survey released by the Japan Center for Economic Research (JCER) lately, up one notch from the previous year. The entire East Asian region is becoming increasingly competitive, Fareed Hwang Jieh-Shan, information division director at the Taipei Economic & Cultural Representative Office in Riyadh, said quoting the survey report.
The eight criteria the JCER employed to evaluate growth environments included levels and quality of internationalization, education, governance, information technology, infrastructure development and scientific resources.
“Taiwan performed particularly well in the infrastructure and science categories, ranking 6th and 9th respectively,” he said, adding that the survey ranked the United States first for overall competitive potential, while Japan ranked 15th, South Korea 19th and China 36th.
Meanwhile, the Taiwan Stock Exchange Corp. (TSEC) confirmed recently that the US Securities and Exchange Commission (SEC) has named the Taiwan Stock Exchange (TAIEX) as a “designated offshore securities market.” That status shared by the likes of the London Stock Exchange, Frankfurt Stock Exchange, Tokyo Stock Exchange and Hong Kong Stock Exchange, will enable TAIEX-listed companies to issue American Depositary Receipts (ADRs) and distribute their study reports free of restrictions under US securities law. The SEC’s decision is based on its finding that the TAIEX meets seven requirements, including oversight by a government or other regulatory body, having an effective system for exchange of price quotations, and an efficient clearance and settlement system.