With the complicated expressions of climate change and the risk of depletion of natural resources, most countries, including Vietnam, consider green economic development an indispensable step in their economic development strategy. The green economy sets economic development goals and pays much attention to human happiness, social justice, and environmental and ecological issues. Over the past time, Vietnam has implemented many measures to manage, effectively exploited, and sustainably used natural resources, fuels, and raw materials, encouraging the development of environmentally friendly products that are renewable, reusable, and recyclable. These measures also promote sustainable production and consumption based on the innovation, the creativity, and the development of sustainable lifestyles, thereby improving people’s quality of life. This process entails many aspects of social morality, relationships between people and nature, attitudes, values, justice, and happiness. The paper provides key information on the status quo of the green economy transition in Vietnam, the barriers toward greener economy, and the progress toward sustainable development and ecosystem protection. Vietnam can accelerate its green economy transition by addressing the highlighted barriers and making policy recommendations, which will create a greener world.