An international "Doing Business" report says Solomon Islands have improved ten places this year.
The Doing Business report looks at conditions for small and medium-sized businesses and measures how easy it is to start a new business, negotiate government rules and regulations and to enforce deals once they are made.Released by the International Financial Corporation (IFC) and the World Bank in Honiara this morning, the 2011 Doing Business Report shows Solomon Islands ranking 96 out of 183 countries.
Solomon Islands were previously ranked at 106 in last year's Doing Business Report.
Presenting the report in Honiara this morning, IFC's Amy Beasley says the new and better ranking is due to the recently passed Secured Transaction Act that has improved access to finance in the country.
Ms Beasley however says some major constraints to doing business in the country still remain.
Only Honiara-based businesses took part in the survey for the 2011 Doing Business Report.
Meanwhile, Vanuatu has again topped the Pacific region with a 60th place ranking, just ahead of Samoa in 61st place and Fiji in 62nd.