One of the key elements of the present Vietnamese industrial development in its pursuit to rapid growth of economic output is the establishment of industrial zones. With respect to industrial zones the process of industrial development in Vietnam can be divided into two stages. Half-empty industrial zones-as currently found in the Southern Key Economic Region-present an opportunity to organize such a favorable location pattern, as new industries can be recruited to complement the existing businesses and enhance waste exchange. The relocation of small- and medium-sized enterprises, especially if they are recycling enterprises, to newly established industrial zones might offer an opportunity to promote waste exchange. In Vietnam, the establishment of industrial zones was considered to be a key vehicle for the industrialization process. In order to improve and more systematically develop both waste exchange practices and environmental management systems of industrial zones in Vietnam three strategic recommendations are developed.