The Republic of Moldova climbed 21 spots in the Starting a Business division of the Doing Business rankings, from the 44th place to the 23rd, IPN reports.

According to the Secretariat of the Premier’s Economic Council, the rankings were compiled taking into account the reform by which the National House of Social Insurance was excluded from the company registration process.

Doing Business is an annual report measuring the regulations that enhance business activity and those that constrain it. The higher is Moldova’s position in the rankings, the more attractive it is considered for investors.

According to the Doing Business rankings, Moldova takes the 44th position out of 190 countries.