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Nhat Nhat Limited Co. will provide the funding until 2018.
As planned, the cash will be used to hire qualified coaches for Khoi, as well as send him to international training courses and competitions, along with other activities to improve his playing level.
Khoi will study under the supervision of his current coach, Dao Thien Hai, and will also take part in online courses.
Khoi, 14, became one of VN's youngest world champions when he was 10 years old in 2012. Two years later, he won his second world title as champion in the U12 category.
He is the only Vietnamese to have won these titles.
Apart from his strong top position in national competitions, Khoi is dominating the Southeast Asian and Asian tournaments in age groups for youths.
Khôi became the youngest champion in the Southeast Asian region at the age of 13 last year. This year, Khoi registered in the National First Division Chess Championship and successfully topped the podium. He is 14 years and nine months old.
Currently his ELO rating is 2,495, and he is qualified to become an International Master.
The HCM City-born player is now earning points to secure a berth for the World Blitz Chess Championship in 2017.