Sri Lanka has claimed the highest spot in the global ease of doing business ranking in the South Asian region while bettering its ranking to 81 from 89, a report issued by the World Bank and International Finance Corporation (IFC) showed.

According to the report, from June 2011 to June 2012, Sri Lanka implemented the most regulatory reforms among the eight economies covered in South Asia, helping to create a better environment for local entrepreneurs.

'Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises' report also ranked Sri Lanka among the 10 economies globally that improved the most in the past year across three or more areas measured by the report.

Singapore remained the easiest place in the world to do business, followed by Hong Kong, New Zealand and the United States.

In South Asia Maldives was ranked 95, Pakistan 107, Nepal 108, Bangladesh 129, India 132, Bhutan 138 and Afghanistan 168.a