The Vietnamese government is expected to invest some 600 billion Vietnamese dong (VND) (nearly $29 million) in developing sports in 2013, Vietnam's state-run news agency reported on Wednesday.

According to Lam Quang Thanh, Deputy Head of the National Sport Administration, more than 46 billion VND will be spent on preparations to compete at the 27th Southeast Asian Games (SEA Games) in Myanmar in December as the competition is regarded as a valuable chance to improve performances ahead of events such as the Asian Games in South Korea next year and the Rio de Janeiro Olympics two years later.

The investment will not be spread as widely across all sports, Thanh said. Sports including football, volleyball and table tennis, which lag behind others, will be assigned to their federations who will take full responsibility for their sport's development.

In the sports development strategy by 2020, Vietnam sets to secure its top three ranking in SEA Games tally and to have 45 athletes to pass the qualifiers and to earn medals at the 32nd Olympiad in 2020.