The study used the approach of cost - benefit analysis (CBA) to assess the economic feasibility of the drainage improvement project in Chien Luoc hamlet, Can Tho City. The study has conducted face-To-face interviews of 60 households in the hamlet to estimate the economic loss of households due to flooding. Economic protection of loss is considered as the benefit of this project. The study showed that the annual economic loss of a household was around 12.35 million VND and total cost of the drainage improvement project was estimated about 153,819 USD, equivalent to 3.23 billion VND. CBA results showed that the net present value (NPV) of the project was estimated about 25.869 billion VND, 107% for the internal return rate (IRR) and 9.7 times for the benefit-cost ratio (CBR) at the discount rate of 10%. Therefore, the drainage improvement project in Chien Luoc hamlet was economically feasible and socially beneficial.