Vietnamese online hotel booking start-up vntrip.vn yesterday said it got US$3 million from a group of foreign investors led by Fenghe Group and Hancock Revocable Trust.

While customers of all mobile networks complain about slow 3G services, network operators say their 3G network capacity is large and speed is sufficient.

Multi-level marketing companies have been discovered indulging in tax fraud worth several billion Vietnamese dong and the sale of fake goods, the Ministry of Industry and Trade’s Competitive Management Department said.

Business performance at commercial banks is forecast to continue its upwards trend this quarter after making some improvements in the first half of the year, a State Bank of Việt Nam (SBV) survey said.

Việt Nam’s rice exports in the first half of the year fell by 32 per cent over the same period last year, mostly due to competition from other countries.

Policy-makers yesterday were called on to build the law on supporting small- and medium-sized enterprises (SMEs) in a way that helps narrow the gap between policies and expectations of businesses.

Vietnamese shares fell for a second day on profit taking and oil stocks plunged on lower oil prices.

Vietnamese people bought more than 24,400 cars in June, an increase of 31 per cent compared with the same period last year, the Vietnam Automobile Manufacturers' Association said.

Mekong Enterprise Fund II, or MEF II, announced the successful sale of 2.5 million shares of Mobile World (MWG) on July 9.