Designed to hold and protect USGI 20rd M16 magazines from the harsh environment of South East Asia, these bags were issued as part of U.S. Intelligence Psychological Operations (PSYOP) during the Vietnam War. Designed to be discarded by U.S soldiers, it was thought the bag would be found and read by enemy personnel. The Chieu Hoi, or simply "Open Arms" bag would allow the enemy soldier safe passage, food and medical care if presented to U.S. ground forces.
Actual translation of the bag reads,
RETURNING CHIEU HOI WILL HELP YOU AGAIN TO SEE YOUR PARENTS AND FAMILY IN A PEACEFUL AND DEMOCRATIC SOUTH VIETNAM