The peri-urban growth in Ho Chi Minh City has been flowing through low-lying areas that is playing a crucial role in preserving the natural ecological balance for urban regions. Under the threats of increasing climate change impacts, the trade-offs of converting the green (and blue) infrastructure (BGI) in the peri-urban area became a critical issue to clarify. This article reviews the methodologies to calculate the long and short-term economic values of protecting BGI and relevant experience in adopting them using the nature-based solutions.  The authors then analyze the Ho Chi Minh city development context to propose a strategic framework to cope with the new wave of urban expansion in the peri-urban of this mega-city.