South Sudan has been ranked by the World Bank as the fourth worst country to do business.

The Doing Business ranking measures aspects of business regulations and their implications for firm establishment and operations.

The report covers important areas that are under the control of policymakers in a country.

South Sudan follows Venezuela, Eritrea, and Somalia, which tops the list of the worst countries.

New Zealand has been ranked as the best out of 190 countries in the world. It is followed by Singapore, Denmark, and Korea.

This year marks the 15th Doing Business report by the World Bank.

Since the inception of the project in 2003, the financial institution says the global business regulatory environment has changed dramatically.

It added that governments around the world have embraced and nurtured advances in information technology to reduce bureaucratic hurdles and increase transparency.

The rank of South Sudan deteriorated to 187 in 2017 from 186 in 2016.

Ease of Doing Business in South Sudan averaged 186.50 from 2014 until 2017, reaching an all-time high of 187 in 2015 and a record low of 186 in 2014.