One of Cambodia's largest and fastest expanding conglomerates, Prince Holding Group ("Prince Group"), has been awarded for responsible entrepreneurship at the 2021 Asia Responsible Enterprise Awards (AREA). Prince Group, managed by Cambodia Prince Chenzhi, was recognised for its high-impact work in Cambodia during the COVID-19 pandemic. This is Prince Group's sixth award this year, and regional and international judging panels have recognised the company as a leading Asian enterprise advocating sustainable development in Cambodia and beyond the ASEAN region. Read more here
AREA, which was founded in 2011, aspires to highlight examples of green leadership, people 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 to join the list. Its goal is to encourage corporate engagement that is consistent with the UN Sustainable Development Goals.
Foxconn Education Foundation, WPP India Foundation, and King Power International Co., Ltd. are among the other AREA recipients. Prince Group was honoured in the Social Empowerment category for a multi-sector response that involved a partnership of business entities, government ministries, and non-governmental groups. 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 past 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 civil society organisations better positioned to make an impact in rural areas, 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 protection. With a focus 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 that 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, 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.”
Over the years, Prince Group has invested more than $2 billion in local initiatives, and the conglomerate will continue to demonstrate its long-term commitment to Cambodia in a variety of ways.
