Saudi Arabia is the 13th most accessible country in the world for foreign investors, and the most accessible in the Middle East and North Africa (Mena) region, according to the Doing Business 2010 report by the World Bank.

It is the fifth consecutive year that the World Bank has ranked Saudi Arabia as the best place to do business in the Middle East. The kingdom was ranked 15^th overall in the 2009 report.

The second best place for doing business in the region is Bahrain, which ranked 20^th overall.

The World Bank said the UAE, ranked 33^rd, was one of the top 10 reformers over the past 12 months.

The release of the World Bank report brings Saudi Arabia closer to its aim of becoming one of the top 10 most open economies to foreign investment by 2010.

Saudi Arabia scored well for reducing the complexity of starting a business and obtaining construction permits, but the report marked down the kingdom for making it difficult to trade across borders, enforce contracts, and employ workers.

“Saudi Arabia’s reforms demonstrate our determination to create the most attractive destination for investment opportunities in the world,” says Amr al-Dabbagh, governor of the Saudi Arabian General Investment Authority (Sagia).

The Saudi government established Sagia in 2000 as a vehicle to drive economic liberalisation.