This report examines the lives of poormen, women, and children and explores the constraints andopportunities they face today in rising out of poverty. Itbuilds on a rich body of poverty analysis and an excellentbase of knowledge from previous reports and aims to do threethings. First, it proposes revisions to Vietnam'spoverty monitoring system - via better data, updated welfareaggregates, and new poverty lines - to bring these more inline with economic and social conditions in present-dayVietnam. Second, it revisits the stylized facts aboutdeprivation and poverty in Vietnam, and develops an updatedprofile of poverty using data from the 2010 VietnamHousehold Living Standards Survey (VHLSS) and newqualitative field studies. Third, it analyzes some of thekey challenges for poverty reduction in the next decade,including changing regional patterns of poverty and wealth,high and persistent poverty among ethnic minorities, andrising inequality in outcomes and opportunities.