I'm not aware about using VBScript in QGIS as Python tends to be more commonly used. But yes, there is a similar functionality. You can set up Actions in QGIS, by using Python or shell commands, to perform certain tasks for specific fields:
You can access these actions when using Identify Features which will provide you with the list of actions you set up. If you want to run an action with a simple mouse-click, the Hotlink plugin allows you to do just that.
Here is some additional information about actions.
After clicking Insert expression, you can specify fields/values of that particular layer by accessing the list: