This study is conducted to explore stakeholders’ understanding of the performance of green-certified factories in the South of Vietnam. The study, based on the LEED Rating system, employs a qualitative approach to address objectives and in-depth interviews with 43 respondents including employees, managers, and buyers of green factories to collect data. The categories taken from LEED such as Water Efficiency, Indoor environmental quality, Energy & atmosphere, Resources & materials, Sustainable sites are used as the main analytical basis. To tackle the research objective, the study aims (1) to explore stakeholders’ awareness of green factories’ performance, and (2) to propose recommendations to enhance the effectiveness of green factories. The research findings show that, in general, stakeholders are satisfied with the performance of green factories. Nevertheless, there are some differences in the awareness of stakeholders working in small and large size green factories in a comparison with LEED. Finally, some suggestions are proposed to enhance the performance of green factories.