Viet Nam is receiving support from the World Bank’s Forest Carbon Partnership Facility (FCPF), UN-REDD, and a range of international governmental and non-governmental agencies to prepare for REDD. Local research institutes and civil society organisations are also contributing. The Ministry of Agriculture and Rural Development (MARD) established the REDD Network as an open-ended organisation that counts among its members government agencies, international development partners, international NGOs and local NGOs, with the mandate of designing an action plan for a national REDD system with all the elements in place. For Viet Nam, consensus that REDD should be consistent with previous policies exists, but stronger cogent, common visions for REDD goals are a must. Proper implementation of the forest land allocation policy is needed to clarify and secure benefits for local stakeholders. A team of specialists under the leadership of the Department of Forestry has proposed a system in which the revenues obtained from the sale of certified carbon credits are pooled into a national REDD fund and then distributed to provincial REDD funds. Viet Nam’s approach is to formulate REDD+ regulations closer to 2012, at the end of its readiness phase. It is participating in various programmes to improve forest cover monitoring and estimation of forest carbon stocks. It has an extensive network of permanent sample plots that will have to be adjusted for the purposes of carbon monitoring. Two demonstration activities have been formally approved. Their geographic scope and content is limited and there is now a need to encourage potential proponents to develop demonstration activities in the various “REDD hotspots” and to test a variety of approaches. The potential for cross-border emission displacement needs attention.