The paper contains the first Russian translation of the Vỏ-cạnh Sanskrit inscription found in Central Vietnam near Nha Trang. The inscription presumably dates from the fourth century C.E. It relates to a polity which existed near Nha Trang and whose nature remains unclear. The inscription of Vỏ-cạnh could not belong to Funan but the existence of the concept of Champa (Campā) is also extremely problematic.