The current population in Ho Chi Minh City (HCMC) is more than 7 million. Due to pressures of increasing population, the developing economy and climate change, the future security of water supply is far from satisfactory. There is also pressure to connect a large number of customers currently not connected to the HCMC water supply reticulation grid. Current water resources management tends to be fragmented and focused purely on supply side management. It is not economically and environmentally sustainable to focus purely on augmenting supply to meet increasing demand. Sustainable water resources management requires a broader more holistic approach. Government's plans to improve current and future water management issues are examined in the context of two case studies, one from Australia (a developed country) and one from the Philippines (a developing country). The sustainable water management approaches adopted by these two case studies sit at either end of the s pectrum of options. One is closer to a centralized government planning model and the other is a more radical privatisation flavoured model. The thesis investigates the current water demand and supply balance for residential, commercial and industry; and propose a balanced strategy to meet the HCMC's demand until year 2020. The amount of water savings are calculated by implementing a suite of water conservation initiatives. The proposed initatives will substantially narrow the gap between the planned supply and forecasted demand, thus providing a acceptable reasonable supply security for the community.