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The World Bank released its annual report on Oct. 28, which assessed that Iran has improved its position from last year’s 119 to 118 among 189 countries in terms of the ease of doing business.

The Doing Business Report (DB) is a study conducted by the World Bank Group since 2003. Every year it aims to measure the costs to firms of business regulations in countries.

The DB index focuses on 10 figures including starting a business, registering property, trading across borders, dealing with construction permits, getting electricity, getting credit, protecting minority investors, paying taxes, enforcing contracts and resolving insolvency.

In the DB 2015 report, Iran ranks 87 (starting a business), 91 (registering property), 167 (trading across borders), 69(dealing with construction permits), 88 (getting electricity), 97 (getting credit), 150 (protecting minority investors), 123 (paying taxes), 62 (enforcing contracts) and 140 (resolving insolvency).

Meanwhile dealing with construction permits, getting electricity is improved; the WB estimates that starting a business and getting credit ranking will be lower in 2016.

The country also is estimated to show negative performance in the fields of registering property, protecting minority investors, paying taxes and trading across borders in 2016.

Iran’s distance to frontier (DTF) score used to compile the rankings improved to 57.44 in 2015 from 56.74 in 2014.

The report covers Iran’s capital city of Tehran.

Singapore topped the list, followed by, New Zealand and Denmark while Eritera stood at the bottom of the list.

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