Bulgaria is improving its business conditions, and the country is once again moving forward in the chart Doing Business 2008.

Bulgaria was one of the ten countries, which introduced the most reforms in improving business conditions. This year Bulgaria moved six spots up in the chart to #46, leaving behind countries like Romania, Italy, Slovenia, and Czech Republic.

This year, many countries from Eastern Europe, including former Soviet republics have surpassed those from Eastern Asia.

Estonia ranks best among the countries in the region - 17th, Latvia is also in the top 25.

Singapore is #1 for the second year in a row, followed by New Zealand, USA and Hong Kong.

The 98 countries whose conditions for doing business since have improved, according to the data, have introduces nearly 200 reforms between April 2006 and June 2007, while those whose conditions have worsened are 27.

Most reforms in Bulgaria have been made in order to facilitate the procedures for obtaining various licenses.

Doing business continues to be most difficult in Kongo. To start a business there, you need to undergo 13 procedures, which requires 155 days. Moreover, starting capital amounts to five times the average annual income per person.

Things are even worse for women, who need to obtain their husband's permission. Unmarried women need an approval from a judge. That explains why just 18% of small business in the country is managed by females.

Gender limitations also exist in some Arab countries, such as UAE and Yemen, where women are not allowed to work at night.

RankingCountryRankingCountry1Singapore26Lithuania2New Zealand27Mauritius3USA28Puerto Rico4Hong Kong29Israel5Denmark30South Korea6Great Britain31France7Canada32Slovakia8Ireland33Chile9Australia34St. Lucia10Iceland35RSA11Norway36Fiji12Japan37Portugal13Finland38Spain14Sweden39Armenia15Thailand40Kuweit16Switzerland41Luxembourg17Estonia42Namibia18Georgia43Botswana19Belgium44Mexico20Germany45Hungary21The Netherlands46Bulgaria22Latvia47Tonga23Saudi Arabia48Romania24Malaysia49Oman25Austria50Taiwan

Source: Doing Business