Fiji has been rated in the top five in the East Asia Pacific Region in terms of the ease of doing business in the country and moved more than 30 places up in the latest world rankings.

The latest rankings released by the World Bank places Fiji fifth out of the 23 countries in the East Asia Pacific Region and is behind only top economies like Singapore, Hong Kong and China, Thailand and Malaysia.

The World Bank also reveals that Fiji's rankings in the overall global standings rates Fiji at 36th out of the 178 countries surveyed. This sees Fiji move 33 places up and the Bank said the high rankings means the regulatory environment is conducive to the operation of businesses.

The report also shows that Fiji is ranked 9th in terms of starting a business in the East Asia Pacific Region while rankings further decrease in terms of registering a property and trading across borders for businesses also rates Fiji low at 18th in the region.

Singapore and New Zealand are rated 1st and 2nd in the world in terms countries where it is easiest to operate a business.