Taiwan placed 27th in a global talent ranking this year, dropping four notches from last year, as it failed to gain headway in stopping brain drain or attracting foreign skilled personnel, the International Institute for Management Development said in a report released yesterday.
The annual ranking assesses the quality of the talent pool available in 63 economies by comparing their investment and development, appeal and readiness scores.
Taiwan dropped from No. 23 to No. 27 due to a weak performance by local companies in attracting or retaining talent, despite the nation’s relatively high quality of life, the report said.
Taiwan ranked behind some of its major trade rivals in the Asia-Pacific region, such as Singapore (13th), Hong Kong (18th) and Malaysia (22nd), but pulled ahead of Japan (29th), South Korea (33rd) and China (39th), the report said.
Taiwan lagged behind most other economies in efforts to make its business environment attractive to highly skilled foreign personnel, placing 55th in the category, it found.
The cost of living index — based on a basket of goods and services — deteriorated further, with the nation placing 49th, two notches down from last year, it said.
The Lausanne, Switzerland-based institute has warned Taiwan against a persistent brain drain, with its ranking falling from 47th to 51st place, it said.
Singapore continued to excel in attracting foreign professionals to sustain its top-tier talent pool, while Malaysia moved up six notches by increasing investments in education to develop a skilled workforce, the report said.
Malaysia also boosted perceptions about the quality of its talent pool, the report said.
Taiwan also put up a soft performance in talent investment and development, with its total public expenditure on education standing at a modest 3.8 percent of GDP, ranking 47th, it said.
The nation had a mediocre showing in the availability of skilled labor, finance skills, competent senior managers and senior managers with international experience, the report said.
The National Development Council, which helped gather data for the survey, said in a statement that the government would take the retreat seriously and draw up measures to reverse the trend.
The government has eased immigration requirements and lowered income tax burdens for foreign professionals, and are studying further stimulus measures, the statement said.
It has also provided scholarships and other incentives to encourage foreign students to study in Taiwan, it said.
Switzerland ranked 1st, followed by Denmark and Norway, while Venezuela had the lowest ranking, preceded by Mongolia and Mexico.
PROTECTIONISM: China hopes to help domestic chipmakers gain more market share while preparing local tech companies for the possibility of more US sanctions Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence (AI) chips instead of Nvidia Corp products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, sources familiar with the matter said. The policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid handicapping its own AI start-ups and escalating tensions with the US, said the sources, who asked not to be identified because the
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
RSS