Yu's cocktail party to welcome business dignitaries

"This demonstrates once again not only the great importance that Yu attaches to the conference but also his determination to improve the domestic economy."

An anonymous official

Premier Yu Shyi-kun will preside over a cocktail party to welcome all dignitaries arriving in Taiwan to participate in the 2003 Taiwan Business Alliance Conference from Oct. 19 to Oct. 22 at the Taipei International Convention Center, an official said yesterday.

"This demonstrates once again not only the great importance that Yu attaches to the conference but also his determination to improve the domestic economy," said the official, who preferred anonymity.

During his recent inspection tour of the Tainan Science-Based Industrial Park, Yu said the park's production value is expected to surge from last year's NT$100 billion (US$3.01 billion) to NT$150 billion by the end of this year, according to the official.

The official said Yu described the industrial park's outstanding economic performance as evidence of the Executive Yuan's determination and concrete action in revitalizing the nation's economy.

The premier has quoted survey reports issued by several internationally renowned market research firms, such as the Switzerland-based World Economic Forum (WEF) and the US-based Business Investment Risk Intelligence (BERI), to support the country's overall economic achievements in recent years.

According to the WEF's recent report on global growth competitiveness, Taiwan's ranking ascended from seventh in the world in 2001 to third last year, and in terms of global microeconomic competitiveness, the country's ranking rose from the 21st in 2001 to the 16th last year.

In the BERI survey on investment profitability of the world's 50 major economies, Taiwan ranked fifth, Yu said, adding that the country was placed 10th in the 2001 information society index ranking released by the US International Data Center, the best of all Asian nations.

Yu said Taiwan ranked first globally in last year's e-government evaluation report issued by Brown University in the US and added that the island was placed 27th in this year's global economic freedom survey released by the American Heritage Foundation, behind only Hong Kong and Singapore.

To improve the nation's competitiveness and to attract foreign investment, government agencies are working to organize the 2003 Taiwan Business Alliance Conference with the theme of "invest in Taiwan, access the world," Yu said.

The conference will officially begin on Oct. 20 with a formal inaugural ceremony to be presided over by President Chen Shui-bian (陳水扁).