The increasing demand for forest resources in Vietnam has increased the need for investment in research and development in the forestry industry. Recent research has investigated the viability of introducing hybrid nursery stock to forestry plantations in Vietnam as a strategy to meet the increased demand for forest products. The study reported in this paper measured forest plantation owners' willingness to pay (WTP) for technologically-improved Acacia hybrid nursery stock in Vietnam using a double-bounded dichotomous choice contingent valuation method. The study was based on 188 face-to-face surveys with forest plantation owners in three provinces in Central Vietnam. The results indicate a WTP value of VND855 (US$0.037) in standard estimation and VND794 (US$0.034) in certainty-adjusted estimation per Acacia hybrid nursery stock. These figures, respectively, represent a 70% and 58% higher WTP value for Acacia hybrid nursery stock than the base price used in the research (VND500). Among the factors analysed, the forest plantation owners' total income, level of education, income from forestry, experience and amount of time spent each year on forestry activities had a positive impact on the WTP for Acacia hybrid nursery stock. These findings can guide the formation of governments to enhance the development of technologies in Vietnam's forestry industry.