This paper examines the effect of industrial park development on people's livelihoods through different impacting channels; including employment, production means and infrastructure. The result of the research shows that industrial park development had a positive influence on people's livelihoods through additional employment, non-farm investments, access to policies, household labor, etc. However, industrial park development also causes negative impacts on people's livelihoods causing unemployment. Data for research is collected from households including land acquisition and no land acquisition living around industrial parks. Research findings can be considered as a basis to help develop the positive influence and restrict the negative influence of industrial park development on people's livelihoods in Vietnam.