Since the beginning of the comprehensive reform process in 1986, economic growth in Vietnam has been remarkable. The question remains as to whether this spectacular development will be able to continue. There are a number of experts who believe that Vietnam is in danger of falling into the middle-income trap or might already be affected by it. The aim of the following paper is to analyse the specific way in which Vietnam has been integrating into the global economy and what kind of production structure has been created as a result. The main conclusion is that theoretical considerations and empirical analyses support the hypothesis that an unregulated integration in the world market is not beneficial for Vietnam in the long run and could lead to Vietnam becoming stuck in the MIT.