TALLINN - The European Chamber (EuCham), an independent institution representing the interests of national and international companies doing business in Europe, has placed Estonia 12th in its Best European Countries for Business 2018 report.
The EuCham score, used for the ranking, originates from the average of the World Bank's Distance To Frontier score (DTF) and Transparency International's Corruption Perception Index (CPI). The top three of the ranking with 46 countries is made up of Denmark, Norway and Finland with the respective scores of 86, 84 and 83.
The rest of the top 10 was made up of Sweden, the UK, Switzerland, Germany, the Netherlands, Iceland and Austria. Estonia and Luxembourg both had a score of 76 and placed respectively 12th and 13th.
Estonia placed 12th also in 2017, but then the country's score was 75.55, growing to 75.90 by the 2018 report.
Among other countries in the region, Lithuania placed 17th, Latvia 20th, Belarus 31st and Russia 42nd.
According to the report, the worst country in Europe to do business in is Ukraine which placed 46th with a score of 48.