Reports circulating on social media over the past few days claimed the man had been living and working in Ho Chi Minh City since March while carrying the disease.
But in a statement issued by the National Steering Committee for COVID-19 Prevention and Control on Thursday morning, it was announced he has tested negative.
His case came to light after he went for a health check at a medical centre in the Ho Chi Minh City and was suspected of possibly carrying the virus.
More than 140 people who have been in contact with the man since his arrival have also been traced and were tested for coronavirus. All results were negative.
The man entered Vietnam on March 11, via Tan Son Nhat International Airport, and was staying on the 2nd floor of the Au Lac Hotel, My Phuoc Ward, Ben Cat Town.
He has been working as a mechanical engineer at Factory No. 4, Kyungbang Company in Bau Bang Industrial Park, Lai Uyen Town, in Binh Duong Province, around 20km from his hotel.
He travelled to his place of work via a private shuttle bus and has shown no signs of ill health during his time in Vietnam .
On Wednesday he was tested for COVID-19 at the HCMC Pasteur Institute and results revealed he did not have the virus.
Health officials contacted 132 of his work colleagues, seven staff at the hotel, two people he had ate dinner with and four members of staff from the Family Medical Practice in District 2, and tested them all.
Every result was negative.
Meanwhile on Thursday morning, the Steering committee said there have been no new cases of COVID-19 recorded nationwide.
Since the first case back in January, 355 people have contracted coronavirus with 336 of them making a full recovery.