Can I move config_db file to a safer folder?

Hellosss, I just installed FA on a VPS which also runs a few other websites and databases. I notice that config_db.php - which has access info to MySQL - is located on the root folder of FA. Just to improve the security of this file, I'd like to move to a safer folder on the server - and update FA script(s) which requires config_db.php.

Any thoughts?