Fox and marketing director Angus Kinnear are in Hanoi holding discussions with the Vietnam Football Federation in an attempt to agree a date in July.
"Arsenal Football Club has so many loyal supporters all across Asia and we are delighted to be here in Vietnam discussing the possibility of playing a match in Hanoi in July," Fox told the club's official website.
"Initial negotiations have gone very well and we are hoping to announce developments on our pre-season tour activities in the near future.
"The club and the players have hugely enjoyed successful pre-season visits to Asia in the past two years, and we are all looking forward to bringing the team to this region again this year."
The Gunners have already agreed to play a pre-season game in the Indonesian capital of Jakarta.