Bulgaria ranked 38th in the latest Doing Business ranking of the World Bank.

Doing Business 2016 ranks 189 economies on their ease of doing business, with a high ease of doing business ranking meaning that the regulatory environment is more conducive to starting and operating a local firm

The ranking is based on the scores obtained on ten topics – starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Bulgaria scores best in protecting minority investors (14), as well as in cross-border trade (20) due to the short time needed to meet the regulatory requirements and transport the goods both for exports and imports. Bulgaria’s worst ranking is in getting electricity (100).

Singapore retains its first position, while Eritrea continues to occupy the bottom of the ranking.

Check out the full ranking here.