This is the Vietnamese SCT-29, a locally produced version of the Russian RPG-29 rocket-propelled grenade launcher that was notably used to devastating affect by insurgency forces in the middle east against the British and American forces.
It penetrated the armor of a Challenger II MBT in one engagement and seriously damaged M1 Abrams MBTs with casualties to the tank crew in multiple engagements.
With Vietnam manufacturing it's own RPG-29 derivative, it can be inferred that the People's Army of Vietnam has effective antitank weaponry against most modern western designed tanks despite lacking a large amount of modern armor itself (there are only 64 T-90S/SK MBTs to match an extremely large amount of T-54/55 tanks).
Vietnam also produces local variants of the PG-29V HEAT anti-tank/anti-bunker round & TBG-29V anti personnel round used by the SCT-29/RPG-29, called the DCT-7.
(VietDefense)