This study investigates the impact of proposals to reduce the height of dykes in Vietnam's Mekong River Delta. The proposals are designed to reduce wetland water levels to an environmentally sustainable level, however it has not been clear how this will affect farmers in the region. High dykes currently protect many farms from flooding and allow farmers to grow more food. The study uses the Tram Chim National Park and adjacent areas in the Plain of Reeds as a case study. It investigates the potential impact of the proposed changes on rice outputs. It also looks at the value of the improvements in environmental quality that the proposals should produce. The study finds that far from there being a trade-off between conservation and rural development, the proposed changes could produce both an improvement in the Delta's ecology and provide a net benefit to society. This suggests that the proposed plans represent a win-win for both nature and for people and that, given that society as a whole will benefit, money should be made available to compensate individual farmers for any losses. The research findings suggest what level of compensation should be provided and highlight other areas for research.