All indications have shown that Taiwan's economy is on the road to recovery, Premier Yu Shyi-kun said yesterday.
Briefing a group of members of the Control Yuan, who were on an annual inspection tour of the Executive Yuan, Yu said that all economic indicators show that Taiwan's economy has bounced back from the bottom and is on a steady course to recovery.
Taiwan's economic growth was 1.2 percent, 3.98 percent and 4.77 percent for the first three quarters of this year respectively, the premier explained. It is estimated that Taiwan will enjoy an annual growth rate of 3.27 percent this year, he added.
Yu also said that Taiwan was ranked third this year in terms of global-growth competitiveness by the Swiss-based World Economic Forum, next only to the US and Finland and up four notches from last year, while its macroeconomic environment index moved from 15th place a year ago to sixth.
The advancement shows that the efforts and achievements made by the government to improve Taiwan's economy have won international recognition, the premier said.
Taiwan has also been seeking to sign free-trade agreements with its trading partners, particularly the US, Japan, Southeast Asian nations and its diplomatic allies, aiming at further expanding its international market, Yu continued. A free-trade agreement with Panama is expected to be signed in April, he revealed.
With a strategy of "global deployment with roots in Taiwan," Yu said, the government has also launched a series of incentives to encourage overseas businesspeople and foreigners to make investments in Taiwan with the aim of promoting its development and lowering the unemployment rate, which has topped the 5 percent mark.
The government hopes to lower the unemployment rate to less than 4.5 percent next year with the implementation of plans for expanding public works and services, the premier said.
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