The study aimed to find out optimal management strategies for productive planted forests when carbon benefits are considered.  Results reveal, compared to the actual rotation age of five year, the optimal rotation age of E. urophylla and A. mangium (when only timber has market value) is 10 and 13 year for households and 9 and 13 years for forest enterprises, respectively, at a 5% discount rate. The NPV is VND 16 million per hectare for households of both E. urophylla and A. mangium. For forest enterprises, the NPV is VND 57 million and VND 62 million per hectare for E. urophylla and A. mangium, respectively.  Adding carbon values make the optimal rotation age slightly shorter and the NPV higher.