This study examines the strategic shifts in Vietnam’s industrial policy under the impact of East Asian economic integration during the 2001–2025 period. Employing a qualitative approach, specifically document analysis combined with longitudinal comparative policy analysis, and drawing on 87 sources including policy documents, international reports, and academic studies, this study identifies three core strategic shifts: (1) from import substitution to export-oriented industrialization and participation in global value chains (GVCs); (2) from broad-based foreign direct investment (FDI) attraction to selective FDI prioritizing high technology and domestic linkages; and (3) from labor-intensive industries to high value-added processing and manufacturing industries. Also, two groups of driving factors shaping these transformations are identified. External factors include the architecture of East Asian integration, U.S.–China geopolitical competition, and global supply chain disruptions, while internal factors are state institutional capacity, pressures associated with the middle-income trap, and long-term development strategies for 2030–2045. The findings provide an academic foundation for the formulation of Vietnam’s industrial policy in the new development phase, particularly in the context of the Regional Comprehensive Economic Partnership (RCEP) coming into force and the growing pressures for global supply chain restructuring.