This article resystemizes and further analyses the approach, the content developed by two theories (theory of economics on the modern development of industrialization: a middle income trap
Non- industrialization weakening), new industrialization format. At the same time, using this theory as the theoretical framework to assess the level of analysis, the growth trend of the manufacturing industry of Vietnam in relation to other countries in Southeast Asia, then provide the scientific foundation of the effective and efficient industrialization policy in Vietnam. On the basis of analyzing, clarifying: "The risk of a low- middle income trap or middleincome trap coming soon" and "The Perils of Premature Deindustrialization", the paper proposed a number of issues with "policy implications" as follows: To avoid the risk of falling into the middle-income trap or premature deindustrialization, new economic policy decisions and long-term based on science theories, modern awareness about industrialization and industrialization practices of Vietnam from the transition to the market economy should be necessary. Monetary and macro financial policies should ensure stable low interest rates to reQ.uce investment costs, enhance the competitive advantage of enterprises... There should be a synchronized breakthrough policy to expand and upgrade basic infrastructure, including traditional road, rail, harbor, which were too backward compared to other countries in the region and caused a negative gap in transportation costs between Vietnam and the region. Encourage the construction of a network of links and cooperation among large and small enterprises, enterprises and institutes, schools is required to reduce funding limitations as well as small scale of Vietnam enterprises. Then gradually facilitate and promote the advantages of scale, production cost reduction, improvement of competitiveness of enterprises and the entire country.