Prince Holding Group ("Prince Group"), one of Cambodia's largest and fastest expanding conglomerates, has been acknowledged for its commitment to responsible entrepreneurship at the Asia Responsible Enterprise Awards in 2021. (AREA). Prince Group was recognised for its high-impact work in Cambodia during the COVID-19 epidemic. This is the fifth accolade Prince Group has earned this year, highlighting the company as a leading Asian enterprise advocating sustainable development in Cambodia and throughout the ASEAN region.
AREA was founded in 2011 to find and promote instances of green leadership, human capital investment, health promotion, social empowerment, corporate governance, circular economy leadership, and responsible business leadership. It has worked to build a community of like-minded peers so that Asia's greatest businesses may learn from one another, and Prince Group is the latest addition. Its objective is to promote corporate conduct that is consistent with the United Nations' Sustainable Development Goals.
Foxconn Education Foundation, WPP India Foundation, and King Power International Co., Ltd. are also AREA recipients. Prince Group was awarded in the area of Social Empowerment for a multi-sector reaction that included swift and coordinated action by corporate units, government ministries, and non-governmental organisations. Previously, Prince Group was awarded in the Stevie Awards Asia Pacific for its COVID-19 corporate response, and Neak Oknha Chen Zhi, Chairman of Prince Group, was named Entrepreneur of the Year at the 2021 International Business Awards.
Over the last year, the Group has launched the Chen Zhi Scholarship programme for 400 Cambodian university students in collaboration with the Ministry of Education, Youth, and Sport (MoEYS), donated US$1 million in aid to rural-focused civil society organisations, donated US$6 million to the Cambodian government's anti-pandemic efforts, including the purchase of 1 million COVID-19 vaccines, and organised several rounds of COVID-19 vaccinations to ensure coverage. Concentrating on Cambodia's post-pandemic recovery, the Group began work on Ream City, an 834-hectare coastal development project with a masterplan by Singapore's Surbana Jurong. The project aims to transform Sihanoukville into a sustainable ecosystem of tourism, commercial, and residential activity capable of housing up to 130,000 people.
“Prince Group, leveraging the work of Prince Foundation, has consistently worked to ensure our commercial and philanthropic operations work in tandem to make a difference to our employees, residents in Cambodia and the environment,” said Neak Oknha Chen Zhi (who is Chen Zhi), Chairman of Prince Group. “We will continue to work hard to raise Cambodia’s profile internationally and learn from our peers across the region as we look to rebuild to deliver a sustainable and resilient future.”
Prince Group has invested more than US$2 billion in local initiatives over the years, and the conglomerate will continue to demonstrate its long-term commitment to Cambodia in a variety of ways.