VN helps Laos build economics-finance academy

VGP - Construction of Viet Nam-funded Dongkhamxang Academy of Economics and Finance began its third phase on July 19 in the Lao capital Vientiane.

July 19, 2019 5:12 PM GMT+7

Speaking at the groundbreaking ceremony, Vietnamese Minister of Finance Dinh Tien Dung said the construction of the academy is part of an agreement on bilateral cooperation between the Vietnamese and Lao Governments for 2016 – 2020.

He said once its third phase is completed, the academy will ensure infrastructure facilities to train 4,000 students and over 300 financial personnel, while its dormitory can provide accommodations for 1,000 students and 100 financial staff.

It will help Laos build its high-quality workforce meeting requirements of the modern age for national development and integration, he added.

The three-phase project costs VND 175.6 billion(US$ 7.59 million), of which VND 158 billion is sourced from the Vietnamese Government’s non-refundable aid and the remainder is funded by Laos.

Spanning over 155,000 square metres, the project includes buildings for study, research, physical training, and dormitory, among other facilities.

On behalf of the Lao Government and people, Lao Deputy Prime Minister and Minister of Finance Somdee Duangdee thanked the Vietnamese Government, people, and Ministry of Finance for their valuable assistance in the past time.

By Hoang Ha