Virtual training program on Inflation, exchange rates, and enhancing management and negotiation skills for Bank of the Lao PDR officials, lecturers and students at the Banking Institute of Laos

On July 10, Hoa Binh University organized a virtual training program on inflation, exchange rates, and enhancing management and negotiation skills for Bank of the Lao PDR officials, lecturers, and students at the Banking Institute of Laos.

Attending the opening ceremony, on behalf of Hoa Binh University, there was People’s Teacher, Assoc. Prof., Dr To Ngoc Hung, President, Prof. Dr Dao Van Dong, Vice President in training, and directors of the Department of Undergraduate and Postgraduate Training, Faculty of Finance – Banking, Victoria Institute of Finance – Banking and High Technology and Institute of International Education. On behalf of the Banking Institute of Laos, there was Dr Thonemy Keokinnaly, Deputy Director and leaders of departments within and under the Institute including the Department of Training, Research, and Information Technology, Department of Finance – Banking, Department of Inspection and Department of Accounting – Auditing. At the same time, the opening ceremony was attended by the professional departments of the Bank of the Lao PDR, lecturers and 55 Masters students of the Banking Institute of Laos.

The content of the virtual training program focuses on two main topics: inflation, exchange rates, and enhancing management, negotiation skills and practical skills in bank management. In the opening ceremony, the President of Hoa Binh University and the Deputy Director of the Banking Institute of Lao reiterated the Vietnam-Laos friendship, annual activities on training, and scientific research on economic management, finance, banking, and accounting in the past 5 years.

Dr. Thonemy expressed her gratitude to the leaders of Hoa Binh University for always accompanying and supporting the Banking Institute of Laos in the past. The virtual training program organized by Hoa Binh University for Lao students within the framework of cooperation activities between the university and the institute for the period 2023-2025 has contributed to meeting the practical work needs of staff, officials and postgraduate students at the Banking Institute of Laos and Bank of the Lao PDR, bringing cooperation agreements into practical application in work.

On the morning of the same day, after the opening ceremony, 55 Lao students discussed and shared information on the topic of inflation, and exchange rates, with lecturer Dr Vu Mai Chi, Deputy Head of the Monetary and Banking Department, Faculty of Banking, Banking Academy. Inflation is currently a challenge for fiscal and monetary policy in many countries due to global events related to COVID-19, which have caused global commodity prices to increase and become more complex, significantly increasing input costs in various sectors of the economy. The content shared focused on reducing the inflation rate, the issue of exchange rate management and current interest rates in Vietnam as well as in Laos, and providing basic and advanced knowledge about inflation and the triangular relationship between inflation – the exchange rate – interest rate, as well as experience in controlling inflation, stabilizing exchange rates, and interest rates during crises in various countries and Vietnam, which the virtual training program is interested in.

In the afternoon session, the virtual training program continued to discuss and practice communication and management skills under the guidance of Dr Vu Hong Thanh, Senior Lecturer, Deputy Head of the Department of Commercial Bank Lecturers, Bank for Investment and Development of Vietnam (BIDV). In session 2, the Lao students and the lecturer also worked on skills such as: Planning in management; Organization and resource management skills; assignment and delegation skills; communication and negotiation skills for managers; problem-solving skills for managers, time management skills; techniques for motivation and persuasion; skills for building good relationships with colleagues and business partners; conflict resolution skills, effective negotiation…

Later in the day, during the closing ceremony of the virtual training program, on behalf of the officials from Bank of the Lao PDR, lecturers and postgraduate students at the Banking Institute of Laos, Dr Thonemy Keokinnaly, Deputy Director of the Institute, expressed her appreciation for the deep professional knowledge and practical skills that the organization board and the 2 lecturers shared and guided for the Lao trainees.

News, Pictures: IIE-HBU, Dept.Ad-Co

*Some pictures of the virtual training program