Denmark best place in Europe to do business

The fourth place finish is its best ever result globally

Denmark has once against been voted the best place to do business in Europe by the World Bank's Doing Business Index for 2015 (here in English).

Globally, the Danes finished fourth, which is the nation's best placing since the index was first launched in 2005.

”I am proud that Denmark is one of the countries in the world where it's easiest to start and run a business,” Mogens Jensen, the trade and development minister, said in a press release.

”Topping this important competition index is good for our ability to create and retain new jobs by attracting foreign investment and spur financial growth.”

READ MORE: Denmark one of the most competitive countries for business

Singapore tops
Denmark was ranked 12th overall when the index made its debut in 2005 before jumping up to fifth for three straight years from 2012-2014.

Among the reasons for the latest step up is the government's decision in 1 January 2014 to reduce the capital amount needed to start liability companies from 80,000 to 50,000 kroner.

Singapore topped the index, followed by New Zealand and Hong Kong, while South Korea, Norway, the US, the UK, Finland and Australia rounded up the top ten. Eritrea, Libya and the Central African Republic were ranked bottom of the list.