Singapore yet again grabbed the top spot in this year’s Business Environment Rankings released recently by the Economist Intelligence Unit (EIU).

Singapore has held on to its distinguished top rank for seven consecutive years. Switzerland took second place while its closest competitor in the region Hong Kong came in fourth. While New Zealand made it in to the top ten – by moving from its previous 11th place ranking into 9th, Germany slipped to the 12th spot from its prior 10th.