Dongkhamxang finance institute breaks ground on third phase 

Dongkhamxang Institute of Economics and Finance has begun construction of their third phase as part of efforts to develop the institute into a leading educational facility for the finance sector.
A groundbreaking ceremony for the third phase of construction took place at the institute on Friday in the presence of Lao Minister of Finance, Mr Somdy Duangdy, and Vietnam’s Minister of Finance, Mr Dinh Tien Dung.
Construction of the Dongkhamxang Institute of Economics and Finance is a cooperative project between the Lao and Vietnamese governments. The project has been divided into three phases, with the first phase completed in late 2008 and the second in 2014.

The first two phases cost VND 186 billion (about US$7.9 million), with VND 16 billion (US$687,000) coming from the Lao government.
These phases comprised four buildings for students, two buildings for training, three dormitories, a library, office, school club and restaurant.
“The institute provides both long- and short-term training and produce trained workers for the finance sector,” Mr Somboun Inthapatya, who is in charge of the project, said.
In response to demand, and the desire to turn the institute into an educational research centre, the government of Vietnam last year agreed to support construction of the third phase. This will cost VND 176.619 billion (about US$7.5 million), of which the Lao government is contributing VND17.619 billion (US$730,000).
The project will consist of a three-storey building capable of accommodating 840 students and two dormitories for 448 students, along with indoor and outdoor sports centres for students and teachers.
“In addition, the project will include road, water and electricity infrastructure, along with the installation of classroom furniture, air conditioning, fire protection and information systems,” Mr Somboun said.  
Once the third phase is complete, authorities believe it will significantly enhance the institute’s role as a leading education centre and its part in the national human resource development strategy until 2030.
The project was also a symbol of the ongoing cooperation between Laos and Vietnam as well as both nations’ Ministries of Finance, he added.

By Phetsamone Chandala
(Latest Update July 22, 2019)