The author highlighted some positive aspects of regional development policy which have been applied locally in 4 regions: Midlands and Northern Mountain, North Central and South Central Coast, Central Highlands and the Mekong Delta. They are: (1) Policy group invested by the state budget. (2) Policy group with preferences, investment support. (3) Policy group related to social issues. The paper presented shortcomings of regional socio-economic development policies: First, time for deploying mechanisms and policies to support socio-economic development for 4 provinces was too short and there was no remarkable difference. Second, there was no specific policy for each region. Third, there was lack of motivating policy group for four key economic areas. Fourth, a number of preferential policies did not match with the real situation. Fifth, some policies provided allowance, short- term, did not guarantee sustainable development in the long term. Sixth, the implementation of the policy in practice was slow. And in finally, the author also given some solutions to develop the regional socio-economy: First, agencies should promulgate policies encouraging incentives with specific characteristics for each region. Second, remove some of the current policies which are no longer appropriate and further diversification of the regional development policy. Third, investment policy from the state budget for regional development should clearly indicate the direction of investment priorities, which focuses on some specific areas in each stage. Fourth, there should be mechanisms and financial incentives to promote the cooperation among regions. Fifth, establish Investment fund to implement projects synchronically inter-provincial and inter-regional projects.