Hoang Anh Gia Lai Joint Stock Company (HAGL) has made a significant investment of nearly 791.8 billion VND (approximately $34 million) in coffee cultivation, marking a strategic shift towards this lucrative crop. The funds are part of a larger initiative that involves raising 2 trillion VND through bonds, specifically the HAG12601 bond series, which was issued on April 29, 2026.

According to HAGL's reports, the investment will be allocated across various projects, including around 164.2 billion VND for a coffee planting partnership in Gia Lai and nearly 264.6 billion VND for another project in the same region. Additionally, approximately 363 billion VND will be directed towards a project in Stung Treng, Cambodia, through HAGL's agricultural development subsidiary.

With a goal to expand its coffee plantations from the current 3,000 hectares to 20,000 hectares by 2028, HAGL plans to add 7,000 hectares in 2026 and another 5,000 hectares annually from 2027 to 2028. This ambitious expansion comes in response to the robust global coffee market, which, according to the International Coffee Organization (ICO), is projected to consume about 175.1 million 60-kilogram bags in the 2024/25 season, equivalent to over 10.5 million tons of coffee annually.

Currently, HAGL's coffee varieties include Arabica in Gia Lai, Robusta and Liberica in Cambodia, and plans for cultivation in Laos, particularly in the Bolaven Plateau region, known for its ideal coffee-growing conditions. The company estimates that the total investment required for the coffee program from 2026 to 2028 will be around 14.22 trillion VND.

This move to invest heavily in coffee comes as HAGL continues to generate significant revenue from other crops, particularly bananas and durians. In the first half of 2026, HAGL reported a total revenue of 3.039 trillion VND, with over 2.718 trillion VND coming from fruit sales. The company has sold approximately 200,458 tons of bananas, contributing around 2.280 trillion VND to its revenue, while durian production is also on the rise, with harvests expected to increase significantly.