This report describes the development, current status and future targets of shrimp aquaculture in the Socialist Republic Of Vietnam (henceforth Vietnam). We highlight the social and environmental importance of mangrove and wetland habitats and demonstrate the decline in such ecosystems due to shrimp aquaculture. We characterise the economics of shrimp aquaculture, both nationally and at the local level, and highlight the industry’s key problems. Finally we describe a range of alternatives and solutions, and present recommendations to the Government of Vietnam, the international donor community, non-governmental organisations and the governments of shrimp-importing countries.