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Tree species inventories, particularly of poorly known dry forests, are necessary to protect and restore them in degraded landscapes. The present research has been conducted to compare taxonomic diversity and community composition in four dry forests (DF) categories with different standing volume levels: very low (DFV), low (DFP), medium (DFM) and high (DFR). This quantitative assessment of taxonomic diversity, forest structure and species composition were obtained from 103 sample plots (0.1 ha each). The regeneration potential of trees was assessed in 515 subplots (4 m × 4 m) located within the 103 plots. A total of 1,072 trees representing 87 species belonging to 37 families were recorded in 10.3 ha of total sampled area. The ranges of diversity indices observed in the four forest types were: Margalef's (5.44–8.43), Shannon-Wiener (1.80–2.29), Simpson diversity (0.76–0.87) and evenness (0.32–0.35). The regeneration potential of rare and threatened species Dalbergia oliveri, Hopea recopei, Dalbergia bariensis, Sindora siamensis, Parashorea stellata was observed to be poor. Conversely, Cratoxylon formosum, Shorea obtusa, Dipterocarpus tuberculatus, Dipterocarpus obtusifolius, Terminalia alata, Shorea siamensis and Xylia xylocarpa were the most dominant species at the seedling and sapling stage, showing a strong potential for regeneration. Overall, this study provides useful information on tree species diversity and composition for tropical dry forests which can be used as baseline data to develop incoming plans for forest management and conservation in Vietnam's Central Highlands Region.