Six dead as boiler explodes at southern Vietnam wood factory
Six persons including a Chinese national died and five others were injured after a boiler exploded Wednesday morning at a wooden products factory in Vinh Cuu district, Dong Nai province.
The factory, owned by Binh Minh Wood Production and Trading Company Limited, suffered extensive damage with one part collapsing completely following the huge explosion at 8:30 a.m, local media reported.
The explosion occurred after workers had been in the furnace for about three minutes to repair it, a relative of one of the people killed was quoted as saying.
According to initial reports that cited a local official, approximately 30 personnel were working in the area when the boiler exploded.
Vinh Cuu police said six people aged 32 to 39 were killed in the explosion, including a Chinese national.
Binh Minh Wood Production and Trading Company Limited has been in business for more than 10 years. According to business registration records, it was formerly a Vietnamese private enterprise. In 2017, it turned into a foreign-invested company, with its director being a Chinese national.
- Read More
Vietnam’s long-term appeal for FDI to boost industrial real estate stocks: analysts
Vietnam’s long-term appeal for foreign direct investment is likely to boost the stocks of industrial real estate developers in the near future, analysts say.
Industrial real estate - Sat, November 9, 2024 | 9:29 am GMT+7
'Trump' a keyword in economic outlook for 2025: Dragon Capital exec
The biggest unknown and major factor affecting global economic outlook in 2025, including that of Vietnam's, will be Donald Trump's second term as U.S President, says Le Anh Tuan, head of Investment at Dragon Capital Group.
Economy - Sat, November 9, 2024 | 7:59 am GMT+7
Taiwan textile giant Far Eastern ups investment in Vietnam province to $1.54 bln
Far Eastern Polytex Vietnam, a Taiwan-invested textile firm, is set to launch its third-phase investment in Vietnam’s southern province of Binh Duong later this year as scheduled, said CEO Yeh Ming Yuh.
Industries - Fri, November 8, 2024 | 10:24 pm GMT+7
TikTok, Shopee execs advise Vietnamese firms to stay ahead of market trends
Vietnamese businesses must understand market trends and stay ahead of them to succeed in sales, says Phan Manh Ha, head of external relations at Shopee Vietnam.
Companies - Fri, November 8, 2024 | 8:26 pm GMT+7
Vietnam carries high potential market for water purifying systems: Taiwanese exec
Taiwanese firm Mbranfiltra is seeking Vietnamese partners to exploit the high potential it sees for its products, including one it has just introduced in the Vietnamese market – a portable water bottle with a filter.
Companies - Fri, November 8, 2024 | 7:10 pm GMT+7
Germany’s PNE wants to process $4.6 bln offshore wind power project in Vietnam by itself
Germany’s Pure New Energy (PNE) wants to proceed with a $4.6 billion offshore wind power project in Vietnam’s central coastal province of Binh Dinh on its own.
Energy - Fri, November 8, 2024 | 4:30 pm GMT+7
Vietnam’s VPBank, Dabaco added to MSCI Frontier Markets Index
Global index provider MSCI has added two Vietnamese stocks – VPBank (HoSE: VPB) and Dabaco (HoSE: DBC) – to the MSCI Frontier Markets Index in its November review.
Finance - Fri, November 8, 2024 | 4:23 pm GMT+7
Nuclear power a must for Vietnam to meet energy demand given renewables' limit: Minister
Renewables, including solar power even backed by an expensive power storage system, cannot fulfill Vietnam’s electricity demand, hence nuclear energy will be needed, said Minister of Industry and Trade Nguyen Hong Dien.
Energy - Fri, November 8, 2024 | 3:52 pm GMT+7
Vietnamese consumers most optimistic in ASEAN on economic outlook: UOB
Vietnamese consumers showed the highest level of optimism regarding their country’s economic outlook and higher appetite for investment compared with their regional peers according to a survey by Singapore-based bank UOB.
Economy - Fri, November 8, 2024 | 3:07 pm GMT+7
Thai-invested MM Mega Market starts building 1st department store in Vietnam
MM Mega Market Vietnam, a supermarket chain under Thai conglomerates Berli Jucker (BJC) and Thai Charoen Corporation (TCC), has broken ground on its first department store in Vietnam, signalling a strong commitment to expanding its presence in the Southeast Asian nation.
Industries - Fri, November 8, 2024 | 2:40 pm GMT+7
Vietnam retail sector leads Q3 earnings growth, mid-caps yield highest returns: brokerage
Earnings of stock exchange-listed companies in Vietnam are estimated to rise 18.8% year-on-year in Q3/2024, with the retail sector taking the lead, according to a report by Hanoi-based VnDirect Securities.
Finance - Fri, November 8, 2024 | 12:02 pm GMT+7
$2.4 bln coal-fired power plant in central Vietnam nears completion, ready to connect to grid
The 1,320-MW Vung Ang II thermal power plant has completed 93% of the construction load and is ready to start trial production and connect to the national grid next month, according to Vung Ang II Thermal Power LLC (VAPCO), the legal representative of the project investor.
Energy - Fri, November 8, 2024 | 10:43 am GMT+7
Trump’s election unlikely to derail Vietnam’s healthy economic trajectory: VinaCapial
The much-discussed impact of Trump’s election to economies around the world is overestimated and there is no risk that Trump’s election will derail Vietnam’s healthy economic trajectory, according to fund manager VinaCapital.
Economy - Fri, November 8, 2024 | 10:23 am GMT+7
Clear M&A potential in Vietnam clouded by legal gray areas: ONE-VALUE exec
Vietnam's mergers and acquisitions (M&A) market has been vibrant in recent years but some legal gray areas that dishearten foreign investors, Japanese included, have prevented its full exploitation.
Executive Talk - Fri, November 8, 2024 | 7:55 am GMT+7
Mega Long Thanh airport should have one more runway in first phase: cabinet
The Long Thanh International Airport in Vietnam's southern province of Dong Nai should have a second runway added to its first phase of construction, increasing the airport’s capacity, says the government.
Infrastructure - Thu, November 7, 2024 | 9:57 pm GMT+7
Hoiana Resort & Golf launches premium pickleball court in central Vietnam
Hoiana Resort & Golf on Thursday opened the Hoiana Pickleball Court in the central province of Quang Nam, which will be the venue for the World Pickleball Championship in January 2025.
Companies - Thu, November 7, 2024 | 8:07 pm GMT+7