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27
MAR

BOAO Forum: Mar. 26-29, 2019 Hainan Province, China

BOAO Forum 2019: Taiwan rises to 2nd competitive Asian economy|Formosan Business Support Co. Ltd.

BOAO Forum 2019: Taiwan rises to 2nd competitive Asian economy

in Regional News

According to Boao Forum for Asia (BFA), a report titled Asian Competitiveness Annual Report 2019 released on Tuesday.

It released at a press conference on the first day of the BFA annual conference, which will run through March 29 in Boao, a town located next to the eastern coastal city of Qionghai in south China's Hainan Province.

Other economies that have made it to the top five are South Korea, Taiwan, Singapore, Hong Kong and Japan.

South Korea moved two slots up from last year to be crowned Asia's most competitive economy.

Israel, Australia, New Zealand, China, and the United Arab Emirates ranked 6th to 10th respectively.

The report revealed that comprehensive competitiveness scores of the 37 Asian and Pacific regional economies have all been on the rise, with the gap between developed and developing economies in the region gradually narrowing, and economic outlook for Asia remaining promising.

The future Asian economy is set to stand on its own feet and notch up steady growth by relying on the huge consumer market and infrastructure construction market. It is expected to take the lead in walking away from the global economic growth downturn and obtain fundamental improvement in the security environment, according to the report.

 

Reference: CHINA PLUS