That difficult period forced THACO AGRI to take on a task even more challenging than production itself: “operating” on the existing situation while rebuilding the legal structure for a large-scale agricultural project.

In late 2023, Duong met with Cambodian Prime Minister Samdech Hun Manet, reporting on the project’s investment scale, workforce size, social welfare impact and long-term expansion plans.

After multiple on-site inspections, the Cambodian government expressed its support for the project’s approach and development orientation.

Another critical bottleneck was the land lease term. Hoang Anh Gia Lai had used the land for about 14 years. As THACO AGRI reinvested from scratch, the costs poured into leveling, irrigation, and infrastructure were immense. Without a long enough timeframe, the payback calculation was nearly impossible. The enterprise proposed re-signing long-term land lease contracts, for 50 years, accompanied by appropriate incentive mechanisms.

"In short, what we took over in 2019 was not a ready-to-use field. To turn it into a plantation, we had to redo everything from the beginning and in a completely new way," Son said. 

From strategic blueprints to real fields

The key to the project, according to Son, was the organization of production. "The first question we asked was: how can a field operate as scientifically as a factory?"

That was also Tran Ba Duong's challenge. After many trips, Duong realized he could not copy the models from anywhere else. Finally, he decided to build his own agro-industrial model.

"I envisioned that we had to build a closed agricultural ecosystem operating under industrial discipline," Duong said.

He designed banana enterprises with 1,000-1,200 hectares each and cattle enterprises combined with fruit trees with 4,000 hectares. 

At the heart of that ecosystem is banana - cattle - grass. Bananas are grown intensively in accordance with export standards. Cattle are raised on a large scale, becoming a link in the circular cycle. Grass is grown for cattle feed while preserving soil and water. Banana by-products are chopped for cattle feed. Cattle manure is treated with microbiology and returned to fertilize bananas and grass.

Projects are organized into agricultural complexes large enough for synchronized infrastructure development. Irrigation is prioritized, with a system of reservoirs, canals, and drainage controlling both dry and rainy seasons.

From thirsty fields in 2019, THACO AGRI step-by-step turned them into an "outdoor factory", where bananas, cattle, and grass do not compete but complement each other in a closed cycle.

The output

In 2023, Ishida, Procurement Manager in the APAC region for Fresh Del Monte, visited THACO AGRI's banana regions in Cambodia to learn about the production. A year later, Chair of Fresh Del Monte flew from Miami to Vietnam to meet Duong. The meeting was just a dinner and a long conversation about bananas, water, soil, and organizing a field like a production line.

Following that trip, Fresh Del Monte began promoting cooperation. In November 2025, the two sides officially signed a strategic cooperation agreement.

Fresh Del Monte is one of the world's largest agricultural corporations, operating for over 136 years with a distribution network in over 80 countries and annual revenue of about $4.6 billion. Such a corporation signing a contract with THACO AGRI is a certification of quality.

Mohammed Abbas, Executive Vice President of Fresh Del Monte, said what caught their attention was not the land area or output in the immediate time. 

"We have worked with farmers and agricultural businesses worldwide for over a century, but we have never seen a company with an engineering and mechanical background approach agriculture the way THACO does," he said, adding that the difference lies in the way of production organization.

Under the agreement, if THACO does not reach at least 90 percent of the committed output, it will be fined $1 for each 13kg box. Conversely, if Fresh Del Monte does not purchase at least 90 percent of the output, they face corresponding sanctions.

Since August 2024, Fresh Del Monte has begun purchasing THACO AGRI's bananas.

"We approach agriculture like industrial production; we don't allow errors," Tran Ba Duong said. "To do that, one must invest from the foundation: landscape, electricity, water, people, and management organization."

Beyond Fresh Del Monte, many other global agricultural brands have been seeking out THACO AGRI.

Tu Giang