Hanoi, Vietnam, February 17, 2023: Vietnamese athletes will receive US$1 million for each gold medal at the 2024 Paris Olympic Games, $500,000 for silver and $200,000 for bronze.
The news was announced at the Announcement Ceremony of an Exchange Training Program for Vietnamese athletes between the Vietnam Olympic Committee and the International Sport Strategy Foundation (ISF) and an MoU between VOC and Asong Invest Sponsorship Program for Vietnam medalists at Paris 2024 on February 1 in Hanoi. Asong is the strategic partner of the Korea-based ISF in Vietnam.
The event was organised to realise the Memorandum of Understanding between the V0C and ISF signed on December 6, 2022 in Korea between representatives of the Ministry of Culture, Sports and Tourism, the Vietnam Olympic Committee and the ISF during a State-level visit.
The bonuses result from a deal signed by the VOC and Asong Invest that will sponsor the entire amount. Also, as per the agreement, some key Vietnamese athletes and teams will go to Korea for training for Paris 2024 soon after the decision of General Sports Administration of Vietnam.
Speaking at the ceremony, Dr. Dang Ha Viet, General Director of the General Sports Administration of Vietnam under the Ministry of Sports and Tourism, said the ISF’s support would create a “golden” chance for Vietnam to elevate its rankings in the regional, continental and world arenas.
Ng Ser Miang, IOC Vice President, expressed his belief that Vietnamese athletes were able to obtain high achievements at the Olympic Games in 2024. The cooperation agreement is expected to contribute to bringing Vietnam’s sports to new heights.
VOC General Secretary Tran Van Manh said at the signing ceremony: "Athletes will also get a bonus from the government. We will keep looking for sponsors to increase the bonus."
The bonuses are the biggest rewards ever offered in Vietnam’s sports history.
One day before the event, Mr. Nguyen Van Hung, Minister of Vietnam Culture, Sports and Tourism, President of Vietnam Olympic Committee, had a meeting with Mr Ng, IOC Vice President and leader of the delegation of ISF and Asong Invest.
The two sides talked about the next steps in their cooperation, including how to use investment in developing Vietnam Olympic sports in the future, supporting funding for the Vietnam Olympic Committee to put into the Olympics, training activities for Vietnamese coaches and athletes to help them reach higher records at the Olympics, and supporting Vietnamese teams to train in Korea. Additionally, the prize level described above was agreed upon by ISF head and Minister Nguyen Van Hung.
At the 2020 Tokyo Olympics, Vietnam’s sports authorities announced rewards worth VND1.85 billion ($79,000), VND1.02 billion ($43,500), and VND640 million ($27,300) for gold, silver, and bronze medalists, respectively.
Vietnamese athletes have won only five medals at the Olympics including one gold for pistol shooter Hoang Xuan Vinh at Rio 2016.
