Taiwan has been ranked as the third-best destination out of 50 countries for investments according to the Business Environment Risk Intelligence (BERI) report. This can be compared with Singapore that tied with South Korea in fifth place, followed by Japan, Malaysia and Indonesia, which ranked 11th, 14th and 18th respectively. India and Vietnam tied for 20th, and China ranked 23rd.

The only two countries ahead of Taiwan in the latest rankings were Switzerland and Norway.

In a statement, the Ministry of Economic Affairs (MOEA) said Taiwan received a total score of 61 for profit opportunity recommendation (POR) — the overall indicator used by BERI to evaluate each country as an investment destination.

According to BERI, the business risk service report provides qualitative analyses and forecasts for 50 countries. BERI uses three main indicators to assess investment conditions — operating conditions (operation risk), political risk, and foreign exchange/external accounts position (remittance and repatriation factor) risk.

MOEA said Taiwan benefited from an improvement in the political risk factor, which scored 46, up from 42 in the previous report in December 2019.

The improvement, which moved Taiwan up from 27th to 13th in the political risk category, came after the ruling Democratic Progressive Party retained the presidency and its majority in the Legislature in January’s elections.

Meanwhile, Taiwan scored 60 in the operating risk factor, down from 64 in December but still ranking as the third best score in the world, and it had the highest score (77) for the remittance and repatriation factor, retaining its top spot from the previous report.