Vietnam went behind after a goal from Muhammad Osamanmusa, but equalised with Tu Minh Quang's cheeky finish. Srirangpirot then reclaimed the lead for the hosts.
Coach Diego Giustozzi's men were looking for at least a draw, but could lose to Thailand and still advance as long as Myanmar did not win against China by a large deficit.
Thailand, as the favourite playing at home, were clearly in control from the get-go. In the 10th minute, Alongkorn Janphon forced Vietnamese goalkeeper Ho Van Y to make a crucial one-on-one save, signalling a tough match ahead for Vietnam.
Just three minutes later, Osamanmusa, Thailand's danger man, opened the score for the men in royal blue with a quick decisive strike that left Y no chance.
Vietnam pushed forward trying to equalise in the final minutes of the first half, and got close in the 17th minute. Nhan Gia Hung fired a beautiful pass for Tran Thai Huy in the second post, however, the striker was too late and the opportunity was wasted.
Giustozzi's side started off strong in the second half, and found their way into Thailand's net just one minute after the break, after Tu Minh Quang's clever finish into the bottom corner.
Vietnam played much better after the equaliser, putting the hosts on the defence. However, a mistake by Nguyen Thinh Phat in the 32nd minute gave away possession, and Worasak Srirangpirot capitalised with a powerful shot.
With a few minutes left on the clock, Giustozzi directed his players to switch to power play so Vietnam could keep possession for as long as possible. The strategy worked well, as the men in white were able to end the match with a 1-2 loss.
Myanmar could only muster up a 3-1 win against China, so Vietnam qualified through to the quarterfinals by a greater goal difference.
Vietnam will face the winner of Group B in the quarterfinals on April 24.
