Before 2012, the majority of HAGL’s revenue and profit came from the real estate sector. However, the downturn in this market from 2012 to 2015 forced HAGL to seek new opportunities in agriculture in other countries. Initially, HAGL focused on industrial crops such as sugarcane, rubber, and palm oil, believing these products would always hold high value.

Rubber became the cornerstone of HAGL’s strategy, leading Bầu Đức to confidently declare, “Even if I have to sell my house, I must plant rubber. Starting in 2014, I will make a profit of 450 million USD each year.” By the end of 2012, HAGL had cultivated 43,500 hectares, achieving 85% of its initial target.

However, rubber has proven to be a significant challenge for the company. When Bầu Đức invested billions of dollars in rubber plantations in Laos and Cambodia, the cost of cultivating rubber was $1,400 per ton, while the selling price was $5,200 per ton, making it a highly profitable business.

Yet, as the saying goes, “Man plans, but God decides.” When Hoàng Anh Gia Lai began harvesting rubber, the price plummeted by 80% to just $1,100 per ton, plunging HAGL into difficulties.

“At that time, many said that Đức didn’t know how to manage or run a business. I was a loser, just bowing my head and sinking deep without saying anything,” Bầu Đức reflected on the past turmoil.