Although Olvera-Lobo et al. (2005) found that the volume of documents needed to be translated for cross-national purposes has multiplied manifold globally, including Vietnam, there is no research on the extent of professionalization of the translator in this market until now. This study thus aims at giving a comprehensive overview on the status of the translation profession in Vietnam by analyzing documentary and empirical data and to indicate the degree of professionalization of this profession in Vietnam. While the findings showed academic attempts to enhance the professionalization of this profession in Vietnam, legal instruments’ analysis indicated the lack of official development evidence, especially in the full-time freelancing type. Via empirical survey and interview data, gaps between university translation degree and the real industry were also pointed out. Implications are then given out for the pedagogical purpose.