aught between the consequences of the stalemate of the Russian invasion of Ukraine and the aggravation of Sino-American tensions, particularly around Taiwan and in the South China Sea, Vietnam must gradually readjust its foreign and defence policy to maintain balanced relations with its main partners. This might allow for a window of opportunity for France and the EU. In 2022, Vietnam successfully and fairly comprehensively managed covid-19 prevention and started to promote socio-economic development. Economic recovery was strong, as Vietnam may have benefited from a relocation of production from China. However, the coming year 2023 is forecasted to be more difficult for Vietnam as the global economy declines and as the Vietnamese economy remains dependent on export markets such as China, its main partner, but also the USA, and the EU. This situation could offer a good opportunity to implement a consistent economic reorientation.