Viettravel signed a contract to invest VND6 billion (nearly US$288,000) for the Viet Nam Tennis Federation during the period 2012-15 on Tuesday.

It will be used to organise national tournaments and increase prize money for players.

At the 2012 National Team Tennis Championships on May 16-26 in Binh Dinh Province, the winning team will receive VND60 million ($2,900) while champions in the men's and women's divisions will get VND30 million ($1,440) and VND25 million ($1,200), respectively.

According to Viettravel, the investment could be raised dependent on conditions every year.

At the signing ceremony, the federation awarded VND100 million ($4,800) to its men's team, who protected its position in the Davis Cup Asia/Oceania Group III in Iran at the beginning of this month. — VNS