This case study describes the present status and trends, and provides recommendations for the improvement of aquatic resources management within Hon Mun Marine Protected Area (MPA), Nha Trang Bay, Khanh Hoa Province, Vietnam. The case study also evaluates options for improving the livelihoods of local villagers through the development of ecologically sustainable aquaculture and fisheries, which include diversification following careful selection and trial of appropriate culture species, and application of “best practice” culture methods.