Major Vietnam conglomerates deepen presence in agriculture sector

The growing presence of both long-established agricultural companies and newly participating private conglomerates is reshaping Vietnam’s agriculture sector into a more diversified industry landscape.

Agriculture has increasingly attracted investment from large private groups as the sector is seen as offering significant growth potential, driven by rising food demand, export advantages and a shift toward large-scale, high-tech production models.

Vietnam’s deeper integration into free trade agreements is also expected to expand opportunities for agricultural exports in international markets.

Industry experts say agriculture is no longer viewed solely as traditional farming activity but is evolving into a modern agricultural economy, where added value comes from technology, deep processing, logistics, and integrated supply chains. This transformation has encouraged many major corporations to increase their long-term investments in the sector.

Most recently, authorities in Tuyen Quang province held talks with Geleximco regarding an investment proposal submitted by Geleximco and Duc Khang Tu Xuyen Agriculture-Forestry-Fisheries Food Group.

At the meeting, the joint venture proposed a high-tech livestock and tea cultivation project in Truong Sinh commune in Tuyen Quang province. The project would cover about 552.8 hectares with total investment estimated at $300 million.

The project is expected to be implemented in three phases from 2027 to 2035 and create around 1,400 local jobs.

Known as one of Vietnam’s major private conglomerates operating across industrial manufacturing, finance-banking, real estate. and commerce-services, Geleximco’s expansion into agriculture is seen as a notable strategic move.

Geleximco is not alone. Several major private corporations have already entered agriculture and gradually built their own ecosystems in the sector.

Among the most prominent is Hoa Phat Group (HoSE: HPA). Originally a heavy industry group, Hoa Phat has invested in agriculture for years through Hoa Phat Agricultural Development, which operates in animal feed production and livestock farming, including cattle, pigs and poultry. The company is also among the leading poultry egg producers in northern Vietnam.

Chairman Tran Dinh Long previously said Hoa Phat faced skepticism when it first entered agriculture, but added that the company has since established a position in the sector.

By 2030, Hoa Phat Agricultural Development aims to raise annual animal feed capacity to 1 million tons, commercial pig output to 900,000 head and cattle herd size to 73,000 head, and maintain annual poultry egg production of around 336 million eggs.

Meanwhile, after taking over and restructuring agricultural projects of HAGL Agrico in 2019, businessman Tran Ba Duong has devoted substantial resources to building a large-scale agricultural model based on industrialization, mechanization and modern management.

According to Thaco Agri, the company is developing an integrated agricultural ecosystem spanning more than 84,000 hectares across Vietnam, Laos and Cambodia. The model includes cultivation, livestock farming, logistics, processing and exports, with the goal of digitalizing and mechanizing the entire production value chain.

Thaco Agri currently develops large plantation areas for bananas and pineapples combined with cattle farming, alongside fruit crops such as durian, mango and pomelo.

However, HAGL Agrico’s restructuring process continues to face challenges, with the company posting losses every year since 2021. Its accumulated losses exceeded VND10 trillion ($379.28 million) as of the end of the first quarter this year.

Elsewhere, Vingroup previously drew attention with its high-tech agriculture brand VinEco, regarded as one of the pioneering moves by Vietnam’s billionaires into modern farming. VinEco was later transferred into the ecosystem of Masan Group as part of Vingroup’s retail restructuring.

Alongside the wave of major private conglomerates entering agriculture, the market has also seen the continued expansion of long-established agricultural companies pursuing industrial-scale and vertically integrated business models.

One notable example is Dabaco Group, one of Vietnam’s largest livestock firms. From a traditional farming model, Dabaco has developed a closed production chain spanning breeding, feed production, livestock farming, and food processing. In recent years, the company has accelerated investment in vaccines and biotechnology to strengthen competitiveness.

In addition, BaF Vietnam has emerged as a fast-growing player in pig farming with its “Feed – Farm – Food” model, while PAN Group has focused on high-tech agriculture and premium food through an ecosystem covering seed production, seafood, packaged foods, and agricultural exports.

The participation of numerous large corporations suggests agriculture is no longer dominated solely by traditional industry players. With advantages in capital, technology and integrated supply-chain development, major businesses are expected to accelerate the modernization of Vietnam’s agriculture sector and enhance the global competitiveness of Vietnamese agricultural products.