Minister of Finance Dinh Tien Dung (L) and his Lao counterpart Lien Thikeo sign the cooperation agreement (Photo: VNA)
Vientiane (VNA) – Minister of Finance Dinh Tien Dung and his Lao counterpart Lien Thikeo signed a cooperation agreement between the two ministries for the 2016-2020 period in Vientiane on April 3.

The document will orient bilateral collaboration activities, prioritising the completion of the Laos’s finance strategy, legal framework, institutional reform, training scheme for senior officials, and high-level delegation exchanges.

It also covers investment in infrastructure and equipment for Laos’s training facilities.

The cooperation between the Vietnamese and Lao finance ministries have reaped good outcomes over the past few years, particularly in the building of important financial laws for Laos such as the Law on Personal Income Tax, Law on Value-Added Tax, and Law on Management and Use of State Property, between 2011 and 2015.

The Vietnamese side also helped its Lao counterpart to improve capacity of officials through a number of training courses on inspection, managerial and lecturing skills; and build infrastructure for financial training schools.

The two sides regularly shared experience in tax, customs, and treasury from central to local level.

The cooperation agreement was signed on the occasion of Minister Dung’s working visit to Laos to attend the 20 th ASEAN Finance Ministers’ Meeting.-VNA