The sponsorship deal between the property giant and the team was signed at the 2019 Novaland Expo the former organised late last week in HCM City to introduce its projects and business plans to partners and potential buyers.

The signing ceremony was witnessed by Mai Ba Hung, deputy director of the city Department of Culture and Sports; Huynh Trong Khai, chairman of the HCM City Basketball Association; Do Thi Nguyet Nga, general secretary of the association; coaches; members of the team and Novaland Group executives.

The women’s team has won eight gold medals in the national basketball championship and many other competitions.

In 2009 the team won a bronze medal in the Asia Indoor Games, 3x3 event.

In 2016, the team’s member Nguyen Thi Tieu Duy was named most valuable player of FIBA Asia Under-16 Championship for Women.

HCM City women’s basketball team has provided many outstanding players to the national basketball team.

The five-year sponsorship deal with Novaland will ensure the team has financial stability to try and reach the next stage in its development.

Novaland said it would closely co-operate with the team to develop basketball but also to take the sport to the community.

It is notable that Novaland has made a commitment to employ members of the team after their retirement from the sport.

Talking about the sponsorship, Mai Ba Hung, deputy director of the city Department of Culture and Sports said: “This is a meaningful move by Novaland to co-operate with local authorities and people to implement the policty of socialising sport.

“The support from Novaland will be a strong boost that will encourage the team’s members and coaches, instilling more enthusiasm in them to win major domestic and foreign competitions.”

Huynh Trong Khai, chairman of the HCM City Basketball Association said at the signing ceremony that the funding from the city now can meet only 50 per cent of the demand. The remaining amount is provided by donors and other supporters, he said.

So Novaland’s support would enable the team to improve its facilities for training, nutrition and sports medicine, he said.

Basketball is growing strongly in Viet Nam with many professional events being organised and attracting great interest, and HCM City is at the forefront, he said.

A team member said: “On behalf of the team, I would like to thank Novaland Group for its supporting. With such support, we can overcome difficulties and pay complete attention to competing.”

During its 27-odd years of operation and growth, besides business development, Novaland has also paid much attention to its employees’ work-life balance.

It has also focused on corporate social responsibility programmes.

In recent years Novaland has spent over VND300 billion on thousands of CSR programmes, benefiting millions people around the country.

For instance, a programme to provide clean water in schools has benefited nearly 80 schools in Ben Tre and Long An provinces, which have over 32,000 students and teachers.

In 2019 Novaland has pledged to further support the community, giving priority to projects that will contribute to the development of the country in the long term.

It said it would co-operate with prestigious domestic and foreign partners to carry out these programmes.