With the SEA Games in the Philippines by the end of this year and qualifiers for the 2020 Tokyo Olympics, SEA Games 2021 and ASIAD 2022 on the horizon, Vietnam’s sports sector is entering a crucial period.
The money will be mainly focused on athletics, swimming, weightlifting, shooting and gymnastics.
Top names like champion of the 2018 ASIAD long jump Bui Thi Thu Thao and swimmer Nguyen Thi Anh Vien are set to receive the sponsorship.
Vuong Bich Thang, head of the administration, said if selected coaches and athletes cannot remain their form, achievements and morals, they will lose funding and other athletes will get it.
Thang said no footballers will be supported as they already receive more funds than the administration can provide from the Vietnam Football Federation (VFF).
He added that the Prime Minister has approved the investment project for sports talents of Vietnam, and it is being deployed by the administration.