After years of continuous development, Vietnam is now facing the serious issues caused by water pollution. In an effort to protect the water resource as well as the health of the population, Vietnamese government started investing in the development of wastewater treatment sector. Because of the limitation of State budget, the government is calling for the support from different financial sources to reduce the financial burden. Public-private partnership is the promising solution for issue of Vietnamese government. However, the wastewater treatment sector in Vietnam is not enough to attract investment from private sector, especially foreign private sector. By reviewing current conditions that the Vietnamese government and the private sector have had for the PPP application, this study presents potential of Vietnam’s wastewater treatment sector to private investors. Finally, based on the performance of the Public-private partnership wastewater treatment projects in Vietnam, experiences of other Public-private partnership wastewater treatment projects in the world, the study also suggests recommendations to improve the ability to attract private sector investing in the wastewater treatment sector in Vietnam.