Forbes has released its fourth annual Best Countries for Business ranking list at a time when the whole world is reeling under economic recession. The Forbes rankings take a look at business conditions in 127 economies. The list gives an indication of the countries which are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers.

 

Topping the list for 2009: Denmark, for a second straight year, takes the No. 1 spot. The U.S. is up two spots to No. 2, Canada is up four spots to No. 3, Singapore is up four to No. 4 and New Zealand is up seven to No. 5. Big movers included New Zealand (No. 5, up seven spots), followed by Jordan (No. 33, up 28), Australia (No. 8, up five), United Arab Emirates (No. 46, up 28) and Malaysia (No. 25, up 13).

 

India slipped down by 11 places to be at 75th position. However, India retained its previous place in areas like monetary freedom (107), property rights (44), innovation (30), red tape (90), investor protection (30) and personal freedom (54).

 

Forbes noted that, New Delhi has reduced controls on foreign trade. Investment with higher limits on FDI permitted in a few key sectors, such as telecommunications. However, tariff spikes in sensitive categories, including agriculture and incremental progress on economic reforms still hinder foreign access to India's vast and growing market, the magazine said. It added that, privatization of government-owned industries remains stalled and continues to generate political debate.