By Fiona Chan

SINGAPORE has been named the fourth best country in the world in which to do business, an achievement that could help pull the country out of its worst recession in history.

The annual ranking of business-friendly countries by financial magazine Forbes Asia saw Singapore jump four spots from last year, leapfrogging Britain, Sweden, Ireland and Finland. Singapore also kept its regional top-dog position as the economy with the best business conditions in the Asia-Pacific. New Zealand was fifth, Australia eighth and Hong Kong ninth.

Business-friendly economies like Singapore, which are able to attract entrepreneurs, investors and workers, are 'in a much better position than others to rebound' from the economic downturn that has gripped the world, Forbes said.

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