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Since the 2000s, agricultural land acquisition (ALA) for urbanization and industrialization has been quickly implemented in Vietnam, which has led to a huge socioeconomic transformation in rural areas. This paper applies the sustainable livelihoods framework to analyze how ALA has impacted the socioeconomic status (SES) of rural women whose agricultural land was acquired. To get primary data, we surveyed 150 affected households, conducted three group discussions and interviewed nine key informants. The research findings reveal that ALA, when applied toward urbanization, has significantly improved the occupational status of rural women by creating non-farm job opportunities that have improved their income, socioeconomic knowledge and working skills. While their SES has been noticeably enhanced, these positive impacts are still limited in cases where ALA is applied toward industrial and energy development, since these purposes do not create many new jobs. Moreover, the unclear responsibility of stakeholders and inadequate livelihood rehabilitation programs of ALA projects have obstructed the opportunities of rural women. To improve the SES of rural women, we recommend that ALA policy initiate a flexible livelihoods support plan based on the purpose of ALA and the concrete responsibilities of stakeholders and investors.