The Vietnamese government has issued new regulations to encourage domestic investment.

And it has called for more foreign investment in order to reach the garment and textile industry's target of $4-5bn in export turnover in 2005.

Industry Minister, Dang Vu Chu, said the country is actively integrating into the world economy.

It has signed a Bilateral Trade Agreement with the US and is speeding up talks to join the World Trade Organisation.

Mr Chu said Vietnam agreed with the general opinion asking those developing countries which import garment and textile products to speed up the integration of garment and textile products into the General Agreement on Tariffs and Trade.

And he also said Vietnam agreed with removing quotas on important products, creating conditions for the development ASEAN countries' garment and textile industry.