The flames were detected about 3 p.m. at the 2000m2 warehouse filled with paper of Diana Diaper and Napkin Production Co., Ltd.
The storehouse was burnt down in less than one hour, according to Tuoi Tre on-the-scene reporters.
At least one car was rerportedly destroyed in the conflagration and several explosions have been heard at the scene, they said.
However, there were no immediate reports of human casualties or property damage.
More than 100 local firefighters are busy battling the inferno.