Speaking English is one of the most difficult abilities for EFL students since there are many factors, both external and internal that condition the learners’ will and skill to perform orally. This paper is aimed at investigating through a literature review the psychological barriers that face EFL students, particularly Vietnamese learners in performing their speaking. The research findings from the investigation show that phenomena like anxiety, low self-esteem, low self-confidence, lack of motivation and ineffective teaching methods are the factors that in many cases lead to poor or even nil language competence and performance. The results prove that students are usually afraid of making mistakes or being judged, they tend to feel tense and nervous, diffident in oral presentations and sometimes they feel confused with their thoughts. The study also proposes some suggestions in order to soften the impact of these factors on the student’s language learning process.