This chapter aims to analyze and evaluate the policy related to quality assurance in Vietnam from the macro to the micro level during the past 20 years, focusing on the past five years. First of all, the chapter provides a context explanation of Vietnam, a booming country in the Asia–Pacific region with its economic rise and education development. Second, the chapter outlines an overview of the higher education quality assurance and accreditation system in Vietnam from the time of its establishment until the present. The third section focuses on the evaluation of quality assurance policy. The first part of this section highlights policy on internal quality assurance promulgated by the national authorities. The second part reviews and analyzes policy on external quality assurance, especially the establishment and operation of accrediting agencies, accreditation processes, and assessment standards. The third part focuses on policy concerning human resource development, professional development, and capacity building in quality assurance. Next, the chapter evaluates the policy on rewards and punishment based on quality assurance outcomes. The final part synthesizes policy related to the internationalization of quality assurance. The evaluation and analysis of Vietnamese higher education quality assurance policy documented in legal documents and guidelines help identify appropriate and inappropriate policies. This chapter is also expected to contribute to the development of sound policy in this area.