Taiwan was ranked 16th among 185 economies with regard to the ease of doing business in 2012, up nine places from the previous year, according to a study released Oct. 22 by the World Bank.
In “Doing Business 2013,” the country’s position follows Asian neighbors Singapore at No. 1; Hong Kong, No. 2; South Korea, No. 8; and Malaysia, No. 12. Japan and mainland China were rated 24th and 91st, respectively.
“Taiwan made the biggest improvement in the ease of dealing with construction permits in the past year,” jumping from No. 87 to No. 9, the report said. It explained that Taipei had simplified procedures by early 2012 through “implementing a single window for pre-construction approvals and another for post-construction approvals in its one-stop shop.”
Authorities also announced new rules on private inspections, the study continued, adding that these efforts “allow builders to perform inspections during the construction of lower risk commercial buildings with fewer than five floors.”
“The changes eliminated 14 procedures and 31 days from the process of dealing with construction permits.”
In the category of investor protections the country advanced from No. 79 to No. 32 by “increasing disclosure requirements for related-party transactions and improving the liability regime for company directors in cases where such transactions are abusive.”
In getting electricity, resolving insolvency, starting a business, trading across borders, registering property, paying taxes, getting credit and enforcing contracts, Taiwan was rated 6th, 15th, 16th, 23rd, 32nd, 54th, 70th and 90th, respectively.
In 2008, Taiwan was ranked 61st overall. Following government reforms, the nation’s rating has steadily improved from No. 46 in 2009 to No. 33 in 2010 and No. 25 in 2011.