Vientiane (VNA) – The Laos - Vietnam Joint Venture Bank (LaoVietBank) on August 15 was awarded the Lao state’s first-class Labour Order on the occasion of its 25th founding anniversary, in recognition of its contributions to the socio-economic development of Laos over the years.

As one of the largest commercial banks in Laos, with a network of branches and transaction offices in nine out of the 18 provinces and cities there, the bank consistently performs its role as a bridge for payments and transactions between the two countries using Vietnamese dong (VND) and Lao kip (LAK). It plays a central role in facilitating payments and solving issues for businesses in bilateral transactions, thus contributing to the enhancement of economic cooperation between the two nations.

Speaking at the event, Acting Governor of the Bank of the Lao PDR Vathana Dalaloy praised LaoVietBank for its significant efforts, outstanding achievements, and positive contributions to Laos’s socio-economic development, as well as its role in promoting cooperation and investment between Laos and Vietnam.

Vathana Dalaloy outlined the key tasks that LaoVietBank should focus on in the coming period, including implementing the business development strategy for the 2021-2025 period, with a vision towards 2030, enhancing system governance capabilities, improving credit quality, innovating and applying advanced technology in banking operations, and strengthening financial capacity.

Also acknowledging and praising the bank's remarkable achievements in contributing to the socio-economic development of Laos, Deputy Governor of the State Bank of Vietnam Dao Minh Tu affirmed that LaoVietBank has consistently been a pioneer in banking cooperation between Vietnam and Laos, effectively implementing the policies and directions of their Parties, states and governments, and providing convenient and modern financial services to its customers.

In recognition of its efforts and positive contributions over the past 25 years, the Lao Party and state have awarded the bank several prestigious honours, including the third-class Independence Order, first-, second-, and third-class Labour Orders, the Friendship Order, and now the first-class Labour Order.

On this o💧ccasion, LaoVietBank was also awarded a Certificate of Merit by the State Bank of Vietnam for its positive contributions to nurturing and developing the relationship between Vietnam and Laos./.