One of the most urgent enabling measures for sustainable forest development is the valuation of the resource for the full extent of benefits that can be provided. The total economic valuation (TEV) framework was applied to the peat swamp forests of North Selangor, and the TEV was estimated for a range of management options. A variety of methods, such as market prices, damage avoided cost approach, replacement cost approach and production-function effect, were used in the study. The results demonstrate that there are suffficient economic reasons at the local and national level for the shift to be made towards improved sustainable forest management. For the shift to more sustainable options to be actually adopted, however, there is a further requirement for new international financial mechanisms. Nevertheless, it would be unwise for Malaysia, or any developing country, to await international transfers before pursuing sustainability paths, especially if this wait undermines its own resources and economy.