Vietnamese-funded Academy of Economics and Finance inaugurated in Laos. (Photo: VNA)

The project, launched in 2017, had total investment capital of 176 billion VND (7.5 million USD), of which 158 billion VND was non-refundable aid from the Vietnamese Government.

Present at the ceremony, Vietnamese Minister of Finance Ho Duc Phoc said the academy can admit up to 4,000 students and officials in the financial sector, expressing his hope that it will provide high-quality personnel, thus contributing to the process of national construction and reform in Laos.

Vietnamese-funded Academy of Economics and Finance inaugurated in Laos: Vietnamese Minister of Finance Ho Duc Phoc speaks at the ceremony. (Photo: VNA)

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

It formed part of an agreement on bilateral cooperation between the Vietnamese and Lao Governments for 2016 – 2020.