Vietnam Air Force is looking new aircraft to replace Mig-21

Vietnam air force is looking for a new aircraft with the legacy as its MiG-21's fleet. But, acquiring a dedicated lightweight interceptor to replace the long retired MiG-21s remains one of the most difficult tasks faced by the Vietnam People's Air Defense-Air Force.
Vietnam Air Force contender for single engine fighter aircraft to replace the MiG-21

There are many options available from around the globe with less suitability and requirements of the Vietnam Air 
Force. Some aircraft from different sources are Su's, MiG's, JAS-39 and HAL-TEJAS
Russia - the traditional source of Vietnamese jet aircraft. but today, it no longer uses single seat fighters. All of their frontline MiG & Sukhoi fighters are twin-engines.
Russian Su's and MiG's as Vietnamese Air Force Contender

While, the United States showcased the F-16 Block 70/72 to Vietnam at the Defense & Security Exhibition event back in 2019, it isn't available. As of now Vietnam may only purchase firearms and "non-lethal equipment" from America. 
China's single-engine fighters such as the JF-17 are ruled out by default. The Chinese wouldn't sell what they know is primarily intended to counter them either, not without extreme concessions. Vietnam will obviously not allow its to have the flying machine from China in its inventory.

JF-17 and F-16 to replace the MiG-21 of Vietnam Air Force

Sweden's JAS-39 Gripen. It should be noted that Thai JAS-39 fighters demonstrated their superiority over Chinese J-11As during a wargame. Factors that must be taken into consideration include price and weapon compatibility - Vietnam's arsenal of Russian jet-launched anti-aircraft missiles likely wouldn't be compatible with the JAS39. It would mean having to buy western missiles and thus spend more money.
JAS-39-Gripen and HAL-TEJAS for the Vietnam Air Force to replace the old MiG-21

The only option left for a single engine fighter is TEJAS,

India offered the HAL Tejas along with constructing logistics facilities in Vietnam. The only problem here is that the Tejas uses a General Electric F404-GE-IN20 turbofan engine. An American-manufactured engine that could cause disputes with the US due to reasons stated above with the F-16. But the discussion to counter the dispute may come with a good result.

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