During the foreseeable (20 year) future, the Pangasius aquaculture industry in the Vietnamese Delta will be exposed to significant changes to biophysical conditions caused by this upstream basin development and also climate change. To date, surprisingly little attention has been paid to the vulnerability of the aquaculture sector to this exposure. In those few examples where it has been the subject of assessments, potential impacts have been forecasted to be largely positive, providing a means to mitigate or ameliorate the widely acknowledged potential impacts on capture fisheries yield. The assessment described in this report aims to address this research need and thereby raise awareness among key stakeholders of their vulnerability to these development and climate change impacts and so helping them mobilise around the issues and communicate their concerns to the Vietnamese government. It supports the MacArthur Foundation Conservation and Sustainable Development Strategy objective: “Understand and respond to increased environmental pressures from development and climate change impacts”.