Vietnam in the past 30 years has implemented successful policies of national food security. The country has even become an ASEAN leading exporter of agricultural products. Nevertheless, Vietnam today is facing challenges of modernizing its agriculture to serve its integration into the international market. The government, hence, has issued a number of policies in order to promote the socialization of private investments in agriculture and rural areas. Although most of the agricultural lands for a long time have been used for rice cultivation, the income of rice growers is reducing. This situation urges the need of converting a part of rice paddies into higher value crops. The new policies for management of this type of land therefore have been promulgated to ensure both objectives of national food security and income improvement for farmers.