The ROC government will speed up easing various laws and regulations governing the financial sector to improve the island's economy, Minister of Economic Affairs Ho Mei-yueh said Wednesday.
Ho made the remarks after learning that Taiwan is rated the world's 37th freest economy in the 2006 Index of Economic Freedom survey released in Hong Kong.
Taiwan's ranking is down 10 notches from last year, mainly due to the country's inferior performance in terms of banking and monetary policy. Taiwan, however, shows improvement this year in its trade policy and fiscal burden.
Taiwan has been outstanding in foreign trade liberalization, Ho said, adding that the island's trade liberalization is expected to be further upgraded if progress can be made during the upcoming Doha WTO talks.
Noting that the ROC government's financial burdens have improved, Ho said that related government agencies will work actively to accelerate banking and monetary liberalization.