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The aims of this study are two-fold. First, the existing literature is reviewed to establish a framework with which to evaluate the evolution of Realistic Mathematics Education (RME) in terms of policies and practices. The framework comprises four factors: (i) national vision and strategy; (ii) curriculum and educational materials; (iii) tests and examinations; and (iv) teacher training programs. Second, this framework was used to analyze RME implementation in Vietnam, based on data obtained from document analysis and participant observation. From the experiences of other countries, several sustainable and suitable guidelines are proposed for the further practical and efficient application of RME in Vietnam. This study also outlines some possible directions for future RME research.