A detailed account of the performance of the VATLY radio telescope, operated in Ha Noi on and near the 21 cm HI line, is given. Drift scans across the Sun are used to measure the dependence of the gain on frequency and power, revealing small nonlinearities at or below the percent level. Interferences associated with the electromagnetic pollution in the Ha Noi environment are described. The sensitivity of the instrument is discussed pnd demonstrated with the detection of the Crab. The reliability of the measurement of the spectral flux density is illitstrated by comparing solar flux data measured in Ha Noi and at the Australian observatory of Learmonth.