Vietnam's textile and garment industry is to launch a multi-agency attempt to slash the cost of electricity, telecommunications and marine transport in a move aimed at making their exports more competitive.

Led by the Vietnam Textile and Garment Corporation, the industry's efforts are part of its blueprint to boost the export value of its goods to $4 billion a year by 2005.

Other measures in the pipeline include the signing of bilateral and multi-lateral trade deals with other nations, holding talks on larger EU quotas and greater marketing efforts to boost the use of domestic materials.

Vietnam's textile and garment exports have grown by an average 26 per cent a year since 1991 and in the first five months of this year, they climbed 7.7 per cent to $820 million compared to the year-ago period.