The project is part of an agreement on the exchange of public land use rights signed between the Vietnamese Association in Vientiane and the Lao Ministry of Industry and Commerce.
It is a joint effort among the Coordinating Board of the Vietnam Buddhist Sangha in Laos, Phat Tich pagoda and the Vietnamese Association in Vientiane to celebrate the Vietnam-Laos, Laos-Vietnam Solidarity and Friendship Year 2022.
Speaking at the event, Vietnamese Ambassador to Laos Nguyen Ba Hung said the construction work has been completed six months ahead of schedule and is yet another result of the special solidarity between the two countries, showing the goodwill of the Lao Ministry of Industry and Commerce, Phat Tich Pagoda and the Vietnamese community in Laos.
The building, costing US$1.28 million, covers 500 sq.m, has five floors, 25 offices, four meeting rooms, and one elevator.
In exchange for the building, the Lao Ministry of Industry and Commerce handed over the right to use land of the old building of the Department of SME Promotion to the association to build a memorial site for Lao and Vietnamese leaders and war martyrs.