PVF members at the launching ceremony at Ho Chi Minh City’s Legend Hotel Saigon Thursday.

The Promotion Fund of Vietnamese Football Talents (PVF) officially commenced operations Thursday after its launch ceremony in Ho Chi Minh City.

PVF is a non-profit organization under the supervision of the Ministry of Culture, Sports and Tourism. It was co-founded by the Thien Tam Fund, Vincom Joint Stock Company and Vinpearl Tourism and Trading Joint Stock Co., with corresponding 80, 10 and 10 percent stakes.

The fund initially had VND80 billion (US$5 million) and planned to achieve a sixfold increase in capital after two years of operation, the founders said.

The main objectives of PVF are to create and sponsor programs to support youth football activities and develop talents across the country.

It aims to generate a pipeline of well-cultured professional young footballers meeting international standards to contribute to advancing the sport in Vietnam.

At the beginning of 2009, PVF will select young talents in the age groups of 8-9, 10-11, and 12-13 to train for free, the founders said. The course will last five years for U12-13 students, seven years for U10-11 students, and about nine years for U8-9 students. The fund will cooperate with other partners, using training methods, teaching materials and coaches from top football training centers in Europe.

PVF plans to build three large training centers in Hanoi, Da Nang or Nha Trang, and HCMC, according to the organizers.

The first project involves completing a 30-hectare training center in HCMC’s District 9 with five stadiums, drilling houses, dining, accommodation and healthcare facilities for trainees and visitors by next October.

While waiting for the center to be built, PVF will lease a yard from Thanh Long Sports Center to train talents.

Board members will guide PVF operations and partake in fundraising efforts as well as campaigns to support the activities of the fund.

Vietnam Football Federation’s Chairman Nguyen Trong Hy applauded the establishment of PVF, saying the fund will play a crucial role in strengthening Vietnamese football, as the country still lacks professional training centers to develop its players.

Hy expressed hope that along with the number of training activities run by Hoang Anh Gia Lai-Arsenal JMG Academy and Scavi Rocheteau Youth Football Training Center, PVF will contribute much to increasing the pool of young local talents for Vietnamese football.

PVF board members

1. Vo Van Thuong, Party Central Committee alternate member and Central Youth Union First Secretary.

2. Huynh Vinh Ai, Deputy Minister of Culture, Sports and Tourism.

3. Tran Dang Tuan, Vietnam Television Station Deputy General Director.

4. Pham Huy Hoan, Vietnam Education Foundation Director and Dan Tri newspaper Editor-in-Chief.

5. Nguyen Cong Khe, Vietnam Youth Federation’s Central Committee Vice Chairman and Thanh Nien newspaper Editor-in-Chief.

6. Doan Cong Huynh, Tien Phong newspaper Editor-in-Chief.

7. Le Hung Dung, Vietnam Football Federation Vice Chairman and Ho Chi Minh City Football Federation Chairman.

8. Le Khac Hiep, Vietnamese Football Investment and Development Fund Chairman.

PVF managing members

1. Huynh Vinh Ai

2. Le Khac Hiep

3. Pham Huy Hoan

4. Nguyen Cong Khe

5. Nguyen Xuan Nam, PVF manager

Reported by Quang Tuyen