The rankings, which measure the attractiveness of doing business in 82 countries and economies globally, showed that, over the past year, Vietnam has made the largest improvement in its business environment, followed by Thailand (10 places) and Belgium (six places).
The assessment is based on data collected throughout the year, considering factors such as global economic chains, inflation, the cost of living, fiscal and monetary policy, and economic growth.
Vietnam's rise was attributed to its favourable policies for foreign investment and its status as an appealing alternative market for firms looking to diversify their supply chains in other Asian markets.
