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The Vietnamese and Lao Finance Ministries jointly held a ceremony on December 17 to inaugurate a project to upgrade the Northern Laos Financial College in Luang Prabang province.

The VND22 billion (nearly US$1.1 million) project, is a gift from the Vietnamese Finance Ministry. It built a two-storey dormitory which can accommodate nearly 300 students and upgraded the working space for the school’s staff.

Speaking at the ceremony, Lao Deputy Finance Minister Santiphab Phomvihane thanked the Vietnamese Party and State in general and the Finance Ministry in particular for their assistance for Luang Prabang province over the past years.

The inauguration of the project in the Vietnam-Laos, Laos-Vietnam Solidarity and Friendship Year 2012 is evidence of the effective cooperation between the two ministries that helps improve human resources training for the northern Lao region, he said.