Using 171 cross-country data observations in 2006, ranking in the ease of doing business in a country turned out to be significantly related with the foreign direct investment (FDI) inflows. Bigger and richer countries also induced more FDI inflows. Especially, coefficients of rankings in total and 4 business stages i.e. starting a business, getting credit, protecting investors, and enforcing contracts, are significant at the 5% level, respectively, and that in closing a business is significant at the 10% level. Furthermore, those of rankings in dealing with licenses, employing workers, registering property, paying taxes, and trading across borders are insignificant. FDI outflows, however, turn out to have nothing to do with ranking in the ease of doing business in total and in 10 business stages.