Vienna Economic Forum was founded in April 2004, in compliance with the Austrian articles of the association with the aim to promote the economic cooperation between the countries from the Adriatic to the Black Sea - Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Moldova, Montenegro, Slovenia and Turkey from the Headquarters in Vienna.             

Founding Members of the Forum are some of the most reputable companies and entrepreneurs in Austria. President of Vienna Economic Forum is the former Vice Chancellor of Austria, Dr. Erhard Busek, Special Coordinator of the Stability Pact for South Eastern Europe. The Prime Ministers of all the states from the Region, together with the Austrian Federal Chancellor present the Committee of Patrons of Vienna Economic Forum and all the Ambassadors of the countries from the Region take part in the work of the Forum as Honorary Members.  
 
The main conferences of Vienna Economic Forum take place every year in November, in Vienna. The 1st Vienna Economic Forum took place on November 8, 2004 in Vienna in the Raiffeisen Zentral Bank, the 2nd Vienna Economic Forum - November 7, 2005, and in November 2006 due to the enormous interest, the 3rd Vienna Economic Forum was prolonged to two days, also on 5-6 November 2007.

Vienna Economic Forum organizes conferences abroad during the year in the capital cities of our member countries, under the patronage of the Prime Minister of each country. The first conference abroad was organized in Romania in June 2005 - Vienna Economic Forum – Bucharest Meeting, under the patronage of the Prime Minister of Romania, H.E. Mr. Calin Popescu – Tariceanu. The second, Vienna Economic Forum – Belgrade Meeting was organized under the patronage of H.E. Mr. Vojislav Kostunica in June 2006. In April 2007 Vienna Economic Forum – Ohrid Meeting, under the patronage of the Prime Minister of the Republic of Macedonia, H.E. Mr. Nikola Gruevski, and in June 2007 Vienna Economic Forum – Istanbul Meeting took place.

In 2008 Vienna Economic Forum - Chisinau Meeting in Moldova, Vienna Economic Forum - Montenegro Meeting in Becici on the coast of Montenegro and Vienna Economic Forum - Tirana Meeting in Albania were held, each under the patronage of the respective Prime Minister.

The new initiative Vienna Economic Talks allows to discuss special topics, branches and regions in a smaller frame. 2008 was organised Vienna Economic Talks - Pleven Meeting with the topics water and waste management and infrastructure. In 2009 Vienna Economic Talks in cooperation with the Austrian National Bank - "The Financial Market Crisis - Effects and Implications for South-Eastern Europe" andVET - Pristina Meeting in Kosovo were organised.

Vienna Economic Talks - Pristina Meeting and Vienna Economic Talks - Sarajevo Meeting took place. During the 6th Vienna Economic Forum in Vienna for the first time the VEF - South East Europe Award was granted. Former Vice Chancellor Dr. Erhard Busek, President of Vienna Economic Forum, Former Federal Chancellor Dr. Wolfgang Schüssel, Dr. Herbert Stepic, CEO of Raiffeisen International Bank-Holding AG and RZB, Member of the Board of VEF, and Dr. Veit Sorger, President of the Federation of Industries, Founding Member of Vienna Economic Forum were recipients of the Award.