According to the World Bank international study "Doing Business 2012" Iceland now ranks number 9 of the world's most business-friendly economies, up from 13th place last year.

In the report's list over good practices Iceland is mentoned for strengthening investor protection. Iceland resources of renewable energy ensure that Iceland ranks number 1 when it comes to getting electricity.

Singapore tops the ranking for the sixth time running. Hong Kong is second and New Zealand third.

The full report "Doing Business in a more transparent world", published annually by The International Bank for Reconstruction and Development and the World bank, is available online.