Hoang Anh Gia Lai, led by Chairman Doan Nguyen Duc, has announced a significant investment of nearly 792 billion VND (around $34 million) from its 2 trillion VND bond issuance into coffee cultivation projects in Vietnam and Cambodia. This initiative is part of the company's strategy to make coffee a primary agricultural product.

According to the company's report, they have utilized approximately 791.8 billion VND from the HAG12601 bond to fund various coffee development projects. Specifically, about 164.2 billion VND has been invested in a coffee cultivation partnership project in Gia Lai through Gia Lai Livestock Joint Stock Company. Another project in the same region received nearly 264.6 billion VND. In Cambodia, Hoang Anh Gia Lai has disbursed around 363 billion VND for coffee cultivation via Stung Treng Agricultural Development Joint Stock Company.

The HAG12601 bond, issued on April 29, has a total value of 2 trillion VND, a maturity of 36 months, and is set to mature in April 2029. It offers an interest rate of 10.5% per annum for the first two interest periods, after which it will float based on the 12-month deposit rate of OCB plus a margin of 2.5%. OCB guarantees payments up to 2.135 trillion VND.

In addition to traditional fruit crops, Hoang Anh Gia Lai is gradually positioning coffee as a central product. The company aims to develop 20,000 hectares of coffee across Vietnam, Laos, and Cambodia by 2028. It has already cultivated about 3,000 hectares in 2025 and plans to plant an additional 7,000 hectares in 2026, expanding by approximately 5,000 hectares each year thereafter. The total capital requirement for this program from 2026 to 2028 is estimated at 14.22 trillion VND, sourced from various means including bond issuance, retained earnings for reinvestment, medium-term capital, and plans for an initial public offering by Hoang Anh Gia Lai International Investment Company (HGI) in 2026.

This push towards coffee cultivation comes amid a global increase in coffee consumption. The International Coffee Organization (ICO) reports that global coffee consumption for the 2024-2025 season is projected to reach around 175.1 million 60-kilogram bags, a 1.4% increase from the previous season, translating to over 10.5 million tons or nearly 29,000 tons daily. The Asia-Pacific region alone is expected to consume 47.4 million bags, marking a 7.4% rise.

Despite increasing investments in coffee, the majority of Hoang Anh Gia Lai's current revenue still stems from fruit crops. In the first half of 2026, the company reported a total revenue of 3.039 trillion VND, with the fruit segment contributing over 2.718 trillion VND. Bananas remain the flagship product, with over 200,000 tons sold in the first half of the year, generating around 2.280 trillion VND in revenue. Meanwhile, durian production is on the rise as new planting areas begin to yield fruit. Therefore, the coffee expansion strategy is being implemented alongside the cultivation of bananas and durians.

Hoang Anh Gia Lai's financial performance has seen a notable increase, with a 117% rise in net profit after tax for the second quarter, reaching 1.126 trillion VND, largely due to debt relief measures.