Illustration depicting a highway gantry sign with a new business concept. Blue sky background.

The World Bank evaluated the progress of countries based on an analysis of 10 indicators and concluded that during the assessment period (from 1 June 2014 to 1 June 2015) Lithuania implemented three major positive reforms in the following areas: Starting a Business, Getting Electricity and Protecting Minority Investors

As a result, according to the Starting a Business indicator Lithuania was ranked 8th this year (last year, after evaluating the amendments of methodology, it was ranked 9th), and according to the Getting Electricity indicator it was ranked 54th (66th last year).

In the Doing Business 2016 report Lithuania is ranked highly by the Registering Property and Enforcing Contracts indicators, 2nd and 3rd respectively (remained unchanged during this year). By the Dealing with Construction Permits indicator Lithuania is in the 18th position (last year it was in the 18th position as well), by the Trading Across Borders indicator in the 19th position (last year it was in the 19th position too).

In the Doing Business 2016 report Latvia is ranked 22nd and Estonia is 16th.

Singapore kept its position as the most business friendly place, followed by New Zealand, and Denmark.