Summaries Although community‐based natural resource management attracts international attention, it has not yet been widely implemented in Vietnam. In Vietnam, the main strategies have been centralised management by state agencies and private management by individual households. This article argues that the promotion of nationalisation or privatisation has not solved the problem of resource degradation and overexploitation, as illustrated by a case study of mangrove forest management in Giao Lac village. The article suggests a practical combination of three strategies: nationalisation, privatisation and community‐based management in the context of Giao Lac Village, where the dyke system is managed by state agencies, shrimp ponds are managed at the household level, and mangrove forests are protected by the whole community.