About 70 Italian companies were briefed on Macedonia's investment opportunities at a business forum held in Turin on Wednesday.

Prime Minister Nikola Gruevski presented the main performances of Macedonian economy, saying it is characterized by enhanced macroeconomic stability and average inflation rate of 2.1 percent over the past 15 years.

According to him, the forum represents an opportunity for strengthening of cooperation with Italy's industry and trade.

"Turin's potential lies in its accumulated knowledge and entrepreneurial spirit, seen through the numerous clusters and networks of research centers, as well as large investments in research and development", added Gruevski.

He emphasized that despite problems arising from the global economic crisis, Turin and the Piedmont region have demonstrated exceptional flexibility and fascinating capability for diversification of existing and development of new businesses, not only in the field of the prestigious automotive industry, but also in ICT, bio-technologies, airline industry.

Gruevski referred to Macedonia's reforms in recent years, such as active measures at the labor market, public finance, the low budget deficit of 2.5 percent of GDP and a state debt of 26.8 percent of the GDP by the end of Q1. He also noted Macedonia's ranking as the top three reformer according to the World Bank Doing Business report, as well as the fact it is the highest ranked Southeast European country with regards to doing business conditions.

"Initial results from the thorough reforms are visible and encouraging. Over the past couple of years, Macedonia has welcomed the investments of U.S. corporations Johnson Controls and Kemet Electronics, German companies Kromberg & Schubert and Draexlmaier, Switzerland's Windtech International, Italy's TeknoHose, along with serious investment interest demonstrated by companies from China, India and Qatar. All of this confirms we are on the right path, the one of economic prosperity", said PM Gruevski.

Guido Bolatto, Secretary-General of the Turin Chamber of Commerce, which organized the business forum, urged Italian companies to use the benefits offered by the Republic of Macedonia as an attractive business destination.

"Investing in Macedonia represents an option for Italian companies to facilitate the overcoming of economic crisis challenges", added Bolatto.

Vice Premier for Economic Affairs Vladimir Pesevski, Minister for Foreign Investments Vele Samak and Agency for Foreign Investments and Export Promotion director Visar Fida also delivered presentations on opportunities for investments in the energy sector, industrial output, real estate, tourism and agriculture. Moreover, they highlighted the Government's investments in education and IT as ways to create a competitive workforce.

The Government team departs for Milan in the afternoon, where another business forum will be held in organization of the city's Chamber of Commerce, followed by a dinner meeting hosted by the American Chamber of Commerce in Italy, including representatives of numerous Italian companies.