Hong Kong and Portugal are among the 20 best countries and regions to do business for next year, according to Forbes’ Best Countries for Business.

The report was released this week and ranks Hong Kong 3rd and Portugal 19th out of 139 countries and regions, ahead of nations such as Germany (21st) or the United States (23rd).

Mainland China occupies the 102nd position, according to this year’s edition of the annual survey.

Portugal is the top-ranked Portuguese-speaking Country in the survey. Cape Verde is 70th, Brazil is 91st and Mozambique 113.

The report does not feature Angola, East Timor or Guinea-Bissau.