Thailand took control almost immediately after kickoff.
Atippong opened the scoring in the second minute before Ho Van Y denied another close-range effort four minutes later. Moments afterward, Panut doubled the hosts' advantage.
Thailand continued to dictate play, and Panut struck again in the 13th minute with a composed low finish after a well-worked team move to make it 3-0.
Vietnam's best opportunity before halftime came in the 15th minute when Cong Dai unleashed a powerful shot that crashed against the crossbar.
Vietnam emerged after the break with greater urgency but initially struggled to break through Thailand's defense.
The breakthrough finally came in the 30th minute, when Chau Doan Phat fired a precise low strike from outside the area to reduce the deficit to 3-1.
Just three minutes later, Tu Minh Quang curled a left-footed effort inside the post, bringing Vietnam within one goal.
With momentum firmly on their side, Vietnam continued to press for an equalizer.
The comeback was completed in the 38th minute when Da Hai converted from close range after a well-crafted team move to level the match at 3-3.
Vietnam then switched to a power-play strategy in search of a winning goal, but neither side found the net again before the final whistle.
Although they fell short of victory, Vietnam's spirited recovery against one of Southeast Asia's strongest futsal teams capped an impressive tournament campaign, with the team finishing unbeaten after recording three victories and one draw.
Dai Nam
