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Despite it's massive financial IMF and EU bailout and the implosion of four of it's national banks, Ireland is still rated as one of the top countries in the world to do business - ahead of Britain, the US and the economic head of the class Germany.

According to report published yesterday by a global index that measures commitment to free enterprise, Ireland's business profile is looking as attractive as ever.

Hong Kong was named the most free place in the world to do business, followed closely by Singapore and Australia.

The Heritage Foundation told the press that despite its recent financial woes, the 2011 Index of Economic Freedom claimed that Ireland positives were still highly competitive.

"Despite the ongoing crisis, Ireland's overall levels of economic freedom remain high, sustained by such institutional strengths as strong protection of property rights, a low level of corruption, efficient business regulations, and competitive tax rates," the organization said in its detailed analysis of Ireland.

The index measures 10 categories of global economic freedom including fiscal soundness, openness to trade and investment, the size of the government, the national business and labour regulations, property rights, corruption, monetary stability and financial competition.