The new contract signed between the Vietnam Chess Federation and Vietnam Technology Solutions Joint Stock Company has a total value of 500 million VND. This is a turning point for the development of Vietnamese chess.
The sponsorship money will be used to pay the international Elo ratings fee to the World Chess Federation for all chess championships in the official competition system of the Vietnam Chess Federation in the period 2024-2028. This means that players participating in the tournaments will have their international Elo ratings calculated through their competition results.
The Vietnam Chess Federation has additional financial resources to pay fees and report to the world federation to calculate Elo for the official competition system in the 2024-2028 period.
Many Vietnamese chess players will significantly improve their Elo coefficient as well as their ranking on the World Chess Federation's rankings. Having more athletes soon complete the criteria to be awarded individual titles in the world chess community will help Vietnamese chess players achieve the titles of International Grandmaster, International Master, FIDE Master, etc.
For many years, most chess tournaments in the official competition system of the Vietnam Chess Federation have not calculated the international Elo ratings. The reason is that the tournament organizers have not been able to arrange the funding to pay the fee to request permission from the World Chess Federation to calculate the international Elo ratings for the players participating in the tournament.
This has caused many Vietnamese players to lose the opportunity to improve their international Elo ratings, their rankings on the World Chess Federation rankings, and to be slow in completing the conditions to be awarded individual titles.
Besides, due to the lack of participation in international tournaments, the international Elo ratings and rankings of many Vietnamese chess players on the World Chess Federation rankings are considered to be much lower than their actual level.
Phuong Mai
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