New Zealand has been ranked second best place in the world to do business by media giant Forbes.
Canada tops the survey, rising three notches, while New Zealand has risen from third place last year to be ahead of Hong Kong.
Forbes says that over the past 20 years the government has transformed New Zealand from an agrarian economy to a more industrialized, free market economy that can compete globally.
New Zealand ranks first in terms of red tape, investor protection, corruption and personal freedom but lower for trade freedom, technology and innovation.
It dropped on the 2010 rankings for tax burden but rose for market performance.
Forbes looks at 11 different factors for 134 countries when it determines the best countries for business.
They include property rights, innovation, taxes, technology, corruption, freedom, red tape, investor protection and stock market performance.
It uses research from a range of organisations including the CIA, the World Bank and World Economic Forum.
