The Czech Republic has placed 30th on the Economic Freedom of the World Index published by the Canadian Fraser institute, up by seven spots compared to last year.
The index compares data from 162 countries, assessing a number of indicators, including the size of the public score, the quality of legislation, foreign trade and overall regulation. Monetary issues and inflation are also taken into consideration.
Hong Kong has traditionally placed top of the ladder, followed by Singapore and New Zealand.