Lao Prime Minister Thongsin Thammavong received Vietnam’s Finance Minister Vuong Dinh Hue in Vientiane on June 25.
At a reception for his guest, PM Thammavong said the current visit by the Vietnamese delegation is to provide Laos with some practical assistance in reforming its economy, especially its financial strategy.
He said he hopes both ministries will step up the exchange of professionals in this area, especially in personnel training and planning.
Minister Hue stated that both ministries are determined to boost comprehensive cooperation, with a focus on drafting laws and strategies and personnel training for the financial sector.
He added that the delegation has also attended a groundbreaking ceremony for a project to upgrade Northern Laos College of Finance in Luang Prabang.
During the visit from June 23-26, the delegation is also scheduled to visit the Dongkhamsang Financial and Economic Institute during the second phase of its construction before holding the fifth meeting between the two ministries.
Earlier, Minister Hue held talks with his Lao counterpart Phuphet Khamphunvong in Laos on June 24 to discuss ways of bolstering bilateral financial cooperation.
Both ministers said that financial cooperation between the two Governments has recorded some positive results, especially the Vietnamese Government’s loans and aid to Laos in training and investment.
They agreed that bilateral cooperation and loan agreements have met the urgent demands from both their financial sectors in the integration process and helped Laos to raise its financial capabilities.
Minister Hue said that his ministry is ready to share its expertise and provide assistance to Laos Finance Ministry.
Both agreed to enhance cooperation in training, drawing up financial regulations and exchange their experiences in economic management to strengthen ties.
The two sides also signed a credit agreement.