One of Cambodia's leading corporations, Prince Holding Group ("Prince Group"), has signed a memorandum of understanding (MOU) with the Ministry of Education, Youth and Sport (MoEYS) to start a scholarship programme for Cambodian university students. Prince Group will cover the whole cost of tuition and stipends for 400 selected students pursuing Bachelor of Science degrees at leading Cambodian universities such as the Royal University of Phnom Penh, the National University of Management, and the Cambodian Institute of Technology. Over the course of seven years, Prince Group will contribute more than $2 million.
Prince Group will collaborate with the government to achieve the goals established in the Education Strategic Plan, as public-private partnerships are critical (2019-2023). Prince Group will collaborate with MoEYS to ensure that students receive financial assistance, training, mentoring, and job opportunities to help them learn in three areas: sustainable real estate development, financial inclusion and the digital economy in the banking and finance industries, and the promotion of world-class hospitality standards, all of which will help meet the local economy's future human capital needs.
Students will learn from top Cambodian professionals through internships - Prince Group, which controls more than 80 enterprises, has a varied workforce, with 20% of staff from from Singapore, Malaysia, and Greater China.
His Excellency Hang Chuon Naron, Cambodia’s Minister of Education Youth and Sport, commented: “We welcome the cooperation of employers that take their role as educators seriously. Cambodia’s road to recovery will require bright young minds from all parts of the country and MoEYS, along with its partners, will remove obstacles, offer targeted guidance, ensure equitable access to education and work opportunities to ensure talented students focus on learning and acquiring skills that will be important for Cambodia’s future.”
“We are pleased to launch one of Cambodia’s largest scholarship programs sponsored by a private enterprise,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group. “Prince Group’s various units are excited to welcome Cambodian students into our family as we will create strong internship and management trainee programs to train, nurture and educate the leaders of tomorrow. The Chen Zhi Scholarship seeks to provide both academic and practical experience for the students, by providing both a first-rate education and exposure to an international working experience.”
Neak Oknha Chen Zhi will be in charge of the scholarship. Due to his business and corporate social responsibility leadership throughout the epidemic, Cambodia Chen Zhi, Chairman of Prince Group, was recently named as the Entrepreneur of the Year among CEOs of conglomerates at the 2021 International Business Awards. Prince Group uses a holistic environment, social, and governance (ESG) strategy that intends to have a long-term impact in Cambodia under Chen Zhi's leadership. Prince Horology Vocational Training Center, Cambodia's first independent watch school, has opened. The training centre provides Cambodian youngsters with the opportunity to learn a new artisanal skill – watchmaking – and obtain valuable experience that will aid them in finding work in Cambodia and abroad. Prince Group also funded the Career Preparation Program held by Caring for Cambodia, a major charity, to assist high school students in August of this year. Prince Group will continue to look for methods to help Cambodians from all walks of life achieve improved educational achievements.