Taiwan ranked 47th in the world in terms of ease of doing business for 2006, down four notches from the previous year, according to an annual report released recently by The World Bank Group.
Among Asian countries, Taiwan had the eighth most conducive environment to operating a business in 2006, according to the Doing Business 2007 Report, which measured business regulations and their enforcement across 175 economies.
Singapore ranked first in the survey, followed by New Zealand and the United States. Rounding out the top 10 list were Canada, Hong Kong, the United Kingdom, Denmark, Australia, Norway and Ireland, in that order.
In the Asian region, Taiwan lagged behind Singapore, Hong Kong, Japan, Thailand, South Korea, Malaysia and Mongolia, but it placed ahead of China, which ranked 93rd.
Among all 10 sub-indices used in the survey, Taiwan performed the worst in terms of ease of employing workers, ranking 154th among the 175 economies surveyed.
Taiwan's difficulty of hiring index stood at 78, compared with the average of 23.7 for the East Asian and Pacific region and 17 for Organization for Economic Cooperation and Development (OECD) member states.