Taiwan maintained its 20th place in a global talent ranking this year, but gained headway in attracting foreign professionals after easing residency and employment rules, a survey by the Lausanne, Switzerland-based International Institute for Management Development (IMD) showed on Thursday last week.
The annual survey arrived at the findings after assessing how 63 economies worldwide develop, attract and retain talent to sustain the pool that enterprises use to create long-term value by comparing their performance in talent investment and development, appeal and readiness.
Taiwan scored better this year in terms of ability to attract and retain foreign skilled professionals, rising in this category to 14th place from 34th last year, the survey showed.
The National Development Council attributed the improvement to legal revisions implemented in February 2018 regarding the employment of foreign professionals.
As of last month, the government had issued nearly 1,000 employment gold cards, 1.8 times higher than the combined figures for the preceding two years, it said, adding that it was proof the regulatory easing is paying off.
The gold card is a provision in the Act for the Recruitment and Employment of Foreign Professional Talent (外國專業人才延攬及僱用法) — part of a wider government initiative to attract highly skilled foreign talent in science and technology, economy, finance, education, arts and culture, sports, law, and architecture — areas that are deemed as important to the economy.
Taiwan’s competent handling of the COVID-19 pandemic helped boost scores in living quality and corporate employee morale, the council said.
Regionally, Taiwan again ranked as the third-highest after Singapore (9th) and Hong Kong (14th), but ahead of South Korea (31st), Japan (38th) and China (40th), it said.
However, the nation slipped one notch in terms of talent investment and development, the survey said, adding that the retreat had to do with a lackluster apprentice system.
There is room for improvement in terms of cooperation between the private sector and educational facilities, the council said.
Taiwan also dropped three spots in talent readiness, ranking 15th globally, the survey showed.
That is because other economies, such as China and Estonia, are rapidly catching up in underscoring scientific education, meaning that Taiwan must heed the trend and strengthen its competitive edge, the council said.
Switzerland once again took the top spot on the global talent ranking, followed by Denmark and Luxembourg, it said.
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