The business development landscape in the north central province of Thanh Hoa has continued to show positive momentum in the first five months of 2025, according to provincial authorities.

The province recorded 1,242 newly established enterprises in the period, achieving 41.4% of the annual target and reflecting a 16.3% increase compared to the same period last year.

With this growth, Thanh Hoa now ranks 8th nationwide and leads the North Central Coastal region in the number of newly established enterprises.

The total registered capital of these businesses reached over VND8.95 trillion (nearly $344 million), with an average charter capital per enterprise standing at VND7.2 billion (nearly $277,000).

New businesses span all 17 major sectors, with notable concentrations in: wholesale, retail, and automobile/motorcycle repair (331 enterprises or 26.7% of the total); education and training (256 enterprises or 20.6%); processing and manufacturing (186 enterprises or 14.9%; and construction  (171 enterprises or 13.8%.

In terms of capital scale, the majority of new enterprises (94%) registered under VND10 billion ($384,000). Meanwhile, 59 enterprises (4.7%) registered between VND10 billion and under VND50 billion ($1.92 million), and only 16 enterprises (1.3%) registered over VND50 billion.

These newly established enterprises are expected to generate employment for 9,318 workers, marking a 16% increase compared to the same period in 2024.