Students from South Korea won the Ho Chi Minh City Football Cup after drawing with second-placed Qatar football academy Aspire in their third match on Saturday.
The Vietnamese U23 players finished third by beating bottom side Singapore U23 2-1 in their third game.
In their first game, the Vietnamese U23 lost 0-1 to the students from Korea and then drew 2-2 with the players from Qatar.
Speaking after the win over Singapore, Vietnam's national coach Falko Goetz said, "This win will help our players improve their spirits in the preparation for the 26th Southeast Asian Games in Indonesia in November.
"The Vietnamese U23s will practice for two weeks in Gia Lai to improve their strategies, so I am sure they will continue to improve their skills."
Singapore, meanwhile, had not sent its top U23 team for the tournament, but are likely to do so at the upcoming 26th Southeast Asian Games in Indonesia.