VNO General Secretary Trần Văn Mạnh (right, first row) and Asong Invest Company representative at the MoU signing ceremony on February 1 in Hà Nội. VNS Photo Quý Lượng

HÀ NỘI — In a historic move, Vietnamese athletes who win gold at the 2024 Paris Olympics will receive a record-breaking bonus of US$1 million, according to an announcement by the Vietnamese Olympic Committee (VNO) and the International Sports Strategy Foundation (ISF) in Hà Nội. 

The two organisations signed a Memorandum of Understanding for the sponsorship of Vietnamese medalists at the Games, which will take place from July 24 to August 11, 2024.

In addition to the bonuses, ISF and its strategic partner in Vietnam, Asong Invest, will also support the country's sports development. This will include sending athletes to intensive training camps in South Korea and exchange programs for sports officials and experts from both countries to learn about sports education, management, and sustainable sport and facility development.

"Việt Nam has achieved great results on the international stage recently," said Đặng Hà Việt, Director of the Vietnamese Sports Administration. "The support of the ISF, a well-established organisation that has raised funds for sports development in many countries, is a valuable opportunity for Việt Nam to further its success in regional, continental, and international competitions."

Silver and bronze medal holders in Paris will receive $500,000 and $200,000, respectively. The ISF and Asong Invest will also bring South Korean sports teams to Việt Nam to train and participate in exchange programmes.

Asian champion Nguyễn Thị Tâm (right) is one of Việt Nam's Olympic athletes in the 2021 Tokyo Games. Olympic champions are promised to earn million of dollars in the coming tournament in Paris in 2024. VNA/VNS Photo

Việt noted that South Korea are a powerhouse in archery, shooting and taekwondo. Potential athletes will be selected and sent to suitable destinations in the country to train and improve their technique. All efforts will be made to ensure they qualify for the Olympics.

Speaking at the event, International Olympic Committee Vice President Ser Miang Ng, also an ISF specialist, believes that under the leadership and cooperation of the two sides, the athlete exchange programme would be well carried out.

He hopes the MoU would be a strong base to help Việt Nam sports go far in the international tournaments and Vietnamese athletes reach positive results at the Paris Games. 

Trần Văn Mạnh, VNO General Secretary, revealed that in addition to ISF's support, the VNO was implementing other programmes to lure more investment to push Việt Nam sport.

He hoped to lure attention from local and foreign individuals and businesses to team up to help Việt Nam Team in important tournaments in the future.

Việt Nam's highest Olympic result was a gold medal in shooting by marksman Hoàng Xuân Vinh at the Rio Games in 2016. 

In the latest Games in Tokyo, Việt Nam earned 18 slots in 11 sports but did not have any athlete in the top three. VNS