Taiwan–Thebestchoiceforyourinvestment.pptVIP

Tyng-Hwa Wang Deputy Director General Industrial Development and Investment Center Ministry of Economic Affairs September 2002 In the Global Competitiveness Report 2001-2002 which was issued by the World Economic Forum (WEF) in 2001, we were ranked in seventh place in the world. This was up three places from the previous year. We ranked fourth in the world in the Technology category and seventh in Growth Competitiveness. This shows that technology is the primary advantage which supports our economic development and the enhancement of our competitiveness. Core competitive advantages of our manufacturing industry ? We have accumulated a rich store of manufacturing competence, engineering capability, and logistics experience. Major industries have built up complete upstream, midstream, and downstream industrial development systems, along with close-knit divisions of labor, and have a strong flexibility in coping with environmental changes. Our enterprises are richly experienced in internationalization, and have a strong ability to grasp markets and technologies. They can develop new products rapidly in response to new opportunities in the market. Chinese Taipei is among the worlds top three suppliers of a number of information and electronic products. Our massive outward investment has built up complete supply systems in mainland China and Southeast Asia. In talking about our economic performance, let me first describe our economic miracle of the past five decades by citing a few major statistics: ? Over that period, our per capital GNP grew almost 60 times. Our foreign trade volume in 2001 was 767 times what it was 50 years ago. Our foreign exchange reserves ranked third in the world at the end of last year. Our annual consumer price growth has almost always been kept below 5%. We have also maintained a low rate of unemployment; five years ago it was less than 2.5%, and until last year it is under 5%. We have also become a major source of outward investme