Cannot vectorize a logo I'm working on.

Photoshop has some vector support and tools.  There are two Photoshop layer types that are vector layers.  Text layers and Shape layers are vector layers.  Shape layers are fill layers with a vector Layer mask.  You can also Mask image layer with a vector layer mask it will still be a raster image layer.   Shape layers are fill layers.  The fill came be empty, a solid color, a gradients or pattern.  So you can not paint in a shape and text layers.  However, you can add layer styles to text and shape layers. So texture gradients, shadow, etc. So text and shape layer can have effects.    So with a lot of shape layers and skill with the pen tool. You can vectorize your logo in Photoshop  if your like me know Photoshop and have no AI knowledge.   If you want to become an Illustrator you should learn AI.   Your Logo vectorized in Photoshop wol look something like this. 

I exported it as an SVG from Photoshop.  Chrome displays is well sor if could be used as a vectore smart object in Photoshop.  Here is the   SVG file text. Save it as text and then change .txt to .svg and see how it looks.

If you take your time your should be able to do a better job than I did. The vending products would need to be  rastor image data though.

<svg id="Logp" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" width="2500" height="2500" viewBox="0 0 2500 2500">
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        fill: #8362aa;
      }

      .cls-2, .cls-3, .cls-4 {
        stroke-width: 13.605px;
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      .cls-3 {
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      }

      .cls-4 {
        fill: #5eb5e6;
      }

      .cls-5 {
        fill: #d03933;
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      .cls-6 {
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        stroke-width: 6.803px;
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      <feComposite result="composite" operator="in" in2="blur"/>
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Not sure how you created this or how you are tryng to "vectorize" it. This should be done in Illustrator. I'm assuming the text and circle are type and a shape - so you are mostly there. As Jane said, your best bet is to bring it into Illustrator and do an Image Trace. It should work great with this logo. 

You indicate that you have multiple layers. Please show your layers panel and resize it taller and wider so we can see all the layers.

You say you made a rectangular selection and converted it to a path. Which layer were you on? What did you select?

If you have Illustrator, use File > Place to put the image into Illustrator, then use Image Trace and adjust the settings. If not, please show these screen shots so we can better assist.

~ Jane