A ceremony was held in Hanoi to award the first package of scholarships for 37 students of the Vietnam National Academy of Music (VNAM), the Tay Bac Arts and Culture College, and the Viet Bac Arts and Culture College.
Each student received VND6 million (nearly US$300) compared with VND4 million last year.
The scholarship aimed to promote and encourage music students to be more active and creative, said Yoshihisa Maruta, chairman of the TVF and general director of Toyota Vietnam.
"This year's scholarship also creates more chances for excellent students to practice and have performances with professional orchestras," Maruta said.
Truong Thi Ngan Ha, 13, from the Piano Department of Hanoi National Academy of Music, who is among those received scholarships, is always an excellent student.
She won the Toyota scholarship last year; the first prize of International Music Competition "Pietro Argento" held in Italy early this year; the second prize from the first Chopin Piano Competition in Bangkok last year; the gold medal from the Festival Piano Cheonan Korea 2012 and many others.
Ha said she is very happy to receive the Toyota scholarship again.
All proceeds from the two music programs Toyota Classics 2015 and Toyota Concert Tour 2015 organised by TMV have been used for this year's scholarships.
Speaking at the ceremony, Dao Manh Hung from the Ministry of Education and Training said, "Toyota Scholarship for Vietnamese Young Music Talents has been really encouraging the study spirit of musical students. We highly appreciate this effort of TMV and believe that the scholarship will continue growing in the future."