Macedonia has made a good economic headway registering the third best GDP growth in Europe last year and having the second best GDP growth of 4.1% in the first half of 2014, Prime Minister Nikola Gruevski stated Monday in his address at the Vienna Economic Forum.

Gruevski referred to the steps made by Macedonia with regards to economy and their results putting an emphasis on macroeconomic stability, capital infrastructural investments and the lowest costs for doing business in Europe.

“We are focused on macroeconomic stability, public debt is low moderate nearing 40%. We are focused on capital investments in infrastructure. Currently, three highways and a railroad track towards Bulgaria are being built. What is very important for investors is that apart from the workforce offered in Macedonia, the country also has the lowest cost for running a business in Europe,” said PM Gruevski.

Austrian President Heinz Fischer, Chancellor Werner Faymann, Albanian PM Edi Rama, Montenegrin Premier Milo Djukanovic, Bulgaria’s Deputy PM Tomislav Donchev, President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti and other notable officials of other European countries or multilateral organizations are attending the 11th Vienna Economic Forum – one of the most renowned political and economic events in Europe.

Events such as the Vienna Economic Forum help in creating joint policies and projects that will lead toward economic or political integration of South-eastern European (SEE) countries into the European Union, according to PM Gruevski.

His Albanian counterpart Edi Rama underscored the efforts made by all Western Balkan countries to pursue economic reforms.

“Every country in fact is strongly committed to making efforts for reforms and as a result of the reforms and as a result of the government approach to improving the business climate, Albania has registered a remarkable improvement within a year in the Doing Business report jumping 40 places. Also, historical data are confirming that Macedonia is also making a significant breakthrough in the Doing Business report,” PM Rama stated.

Opening the Vienna Economic Forum, Austria’s President Fischer pinpointed his country’s dedication to providing support for economic and political integration of the SEE region in the EU.

“We are endorsing the European perspective of all countries in the region of South-eastern Europe, not only from a political point of view, but we are also supporting economic development and infrastructural projects in the region. It is also crucial for better integration at political and economic level,” the Austrian President said.

The efforts made by Western Balkan countries to achieve progress need to be supported by the EU, according to Montenegro’s Premier Milo Gjukanovic. “It is important the European Union to create an investment framework wider than the existing one that will be favourable in developing an integrative future of the Western Balkans in the European Union,” PM Gjukanvic noted.

Later in the day, PM Gruevski is scheduled to take part in a meeting of the Central European Initiative (CEI) in which Austria will hand over CEI’s presidency for 2015 to Macedonia.