New Zealand has been named the easiest place in the world to do business, followed by Singapore and Denmark, according to Doing Business 2019: Training for Reform, a report released by the World Bank.

Starting a new business in New Zealand has the smallest number of required procedures (one) and the shortest time to fulfill them (half a day).

The ranking uses 11 indicators to measure aspects of business regulation across 190 economies worldwide. These indicators are: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulations.

Chinese mainland, ranking 46th this year, is among the top 10 in terms of improvement.

Let's take a look at the 10 easiest places in the world to do business.

No 10 Macedonia