Cambodian Business Journal

  Chen Zhi Cambodia, Chairman of Prince Holding Group, one of Cambodia's largest and fastest growing conglomerates, has donated US$2 million to help the Lao government combat the COVID-19 pandemic. Chen Zhi had also contributed $1 million earlier in September. Both donations responded to Prime Minister Hun Sen's call to strengthen bilateral COVID-19 cooperation between the two neighbours. Guy Chhay, a board member of Prince Holding Group, completes the donation on Chen Zhi's behalf at the Peace Palace in Phnom Penh. The two donations totaling $3 million are intended to help the people of Laos fight the pandemic. With Cambodia being one of the most vaccinated countries in the world, Chen Zhi, an entrepreneur and Mekong business leader, understands how critical it will be for Cambodian businesses to support neighbouring countries in their anti-COVID efforts. Prince Holding Group, as a leading Cambodian enterprise, aspires to contribute to the Kingdom's leadership role in ...

  Prince Holding Group ("Prince Group"), one of Cambodia's largest and fastest-growing conglomerates, and Plan International Cambodia ("Plan International") have officially launched their Water, Sanitation, and Hygiene ("WASH") intervention programme at all school levels in Preah Sihanouk province during the school reopening ceremony officiated by Minister of Environment, H.E. Say Samal, Preah Sihanouk Governor, H.E. Kuoch Chamroeun, and Under Yesterday's ceremony was held at the Hun Sen Veal Renh High School in Prey Nob district, Preah Sihanouk province. “I would like to thank Prince Group and Plan International Cambodia for this joint initiative to support safer school environments in conjunction with the school reopening. The program is set to install 198 pedal-operated handwashing stations across 99 schools in Preah Sihanouk. In addition, Prince Foundation also donated 990 infrared thermometers,” said H.E. Say Samal, Minister of Environment, du...

  Neak Oknha Chen Zhi, Chairman of Prince Holding Group, one of Cambodia's largest and fastest expanding conglomerates, has donated US$1 million to the Laotian government in response to Cambodia's appeal for more collaboration with Laos in combating the pandemic. Cambodia Chen Zhi is no stranger to Cambodia. He is the driving force behind the Cambodian Group's success, which includes Prince Holding Group, Prince Real Estate Group, Prince Bank, Prince Huan Yu, Belt Road Capital Management, and Cambodia Airways. Additionally, the Cambodian entrepreneur was named Entrepreneur of the Year – Conglomerates at the 2021 International Business Awards, making him the only entrepreneur to be recognised in a category honouring CEOs of multi-industry firms. Additionally, he is one of three Asian CEOs honoured for their dynamic entrepreneurialism across multiple sectors during one of the most difficult years in business leadership. https://khmergloriousmoments.wordpress.com/2021/10/10/t...

  Ms. Chutth Chenda, a Cambodian employee of Prince Real Estate, has won first place in the Cambodia ASEAN Chairmanship logo design competition organised by the Ministry of Foreign Affairs and International Cooperation ("MFAIC"). Chenda was one of four Prince employees who took part in the experiment. Chenda received a US$1,000 cash prize from MFAIC for her winning entry. To recognise her efforts and accomplishments, Prince Group's management has decided to match the cash prize with an equal contribution. As a token of appreciation, the other three participants will also receive token prizes. MFAIC officially announced the winning logo design on October 28th, when Cambodia symbolically took over the ASEAN chairmanship from Brunei in an official ceremony. ASEAN, officially the Association of Southeast Asian Nations, is Southeast Asia's preeminent economic union that promotes the interests of its member countries. The annual ASEAN Summit, which will be held in Cambodia ...

  Prince Holding Group ("Prince Group"), one of Cambodia's major corporations, has signed an agreement with the Ministry of Education, Youth, and Sport (MoEYS) to establish a scholarship programme for Cambodian university students. Prince Group Cambodia will cover the whole cost of tuition and stipends for 400 selected students pursuing Bachelor of Science degrees at prestigious Cambodian universities, including the Royal University of Phnom Penh, the National University of Management, and the Institute of Technology of Cambodia. Prince Group will provide more than US$2 million over a seven-year period. https://en.wikipedia.org/wiki/Education_in_Cambodia Due to the critical nature of public-private partnerships, Prince Group will collaborate with the government to accomplish the goals established in the Education Strategic Plan (2019-2023). Prince Group will collaborate with MoEYS to ensure students receive financial assistance, training, mentoring, and employment opport...

  In response to Cambodian authorities' appeal to boost collaboration with Laos in fighting the pandemic, Neak Oknha Chen Zhi , Chairman of Prince Holding Group, one of Cambodia's largest and fastest expanding conglomerates, has contributed US$1 million to the Laos government. Chen Zhi is no stranger when it comes to Cambodia. He is the driving force behind Prince Holding Group, Prince Real Estate Group, Prince Bank, Prince Huan Yu, Belt Road Capital Management, and Cambodia Airways, all of which are successful Cambodian businesses. https://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Cambodia-OVERVIEW-OF-ECONOMY.html At the 2021 International Business Awards, the Cambodian entrepreneur was also named Entrepreneur of the Year – Conglomerates, making him the only entrepreneur rewarded in a category honouring CEOs of multi-industry firms. He is also one of three Asian CEOs acknowledged for innovative entrepreneurialism in various sectors during one of the most diffi...

  Prince Foundation, formerly known as Prince Charitable Foundation, has unveiled a new logo, name, and vision statement – "Together, Building a Better Future for Cambodia." Prince Foundation is the charitable arm of Prince Holding Group ("Prince Group"), one of Cambodia's largest conglomerates, with various units focusing on three core areas: real estate development, financial services, and consumer services. In Chinese, Prince Foundation will be known as 太子慈善 (translated as "Prince Foundation"). The rebranding exercise follows an exhaustive review of Prince Foundation's previous six years of high-impact philanthropic activities, during which time it held more than 250 charity events benefiting more than half a million Cambodians, with total donations exceeding US$14 million. As a result of the emerging trend among similar foundations in Asia – more charitable foundations in the region are seeking to become more strategic and investment-oriented i...

  For the upcoming academic year, Prince Charitable Foundation, the charitable arm of Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest growing conglomerates, will sponsor the Career Preparation programme run by Caring for Cambodia, a leading charity that provides free education to 7,000 impoverished students. The partnership with Caring for Cambodia, announced on International Youth Day, exemplifies how Prince Group has embarked on a new journey at a critical time when youth unemployment in Cambodia is expected to rise due to the worsening COVID-19 pandemic situation. Prince Group hopes to invest in Cambodia's future by empowering and validating an institutional approach to youth development by supporting the Career Preparation programme. “We are pleased to partner with Prince Holding Group as we look to expand and enhance our Career Preparation program,” said Jamie Amelio, Founder and CEO of Caring for Cambodia. “In the new environment defined by th...

  Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest-growing conglomerates, has been named a Silver winner in the COVID-19 Corporate Response category of the eighth annual Asia-Pacific Stevie Awards (one of the most recognisable business awards in the world). Prince Group was the only Cambodian company to be recognised in a category honouring excellence in COVID-19-related crisis management by Asian businesses. The Asia-Pacific Stevie Awards are the only business awards programme that recognises workplace innovation in all 29 Asia-Pacific countries. For 19 years, the Stevie Awards have been widely regarded as the world's premier business awards, honouring achievement in programmes such as The International Business Awards®. “The recognition solidifies our belief that the private sector has an important role to play in contributing to global recovery. We will continue to assist the community in Cambodia as we respond to the latest wave of COVID-19 infec...

  Canopy Sands Development, a subsidiary of Prince Holding Group, one of Cambodia's largest and fastest growing conglomerates, has approved a masterplan for Ream City developed by Surbana Jurong Group, a Singapore-headquartered global urban, infrastructure, and managed services consultancy. The masterplan establishes a land use strategy for the 834-hectare project, which will require an estimated US$16 billion in total investment and will be developed on reclaimed land just ten minutes from Sihanoukville International Airport. Ream City will serve as a catalyst for the entire Sihanoukville region's growth prospects, as Cambodia's third largest city and home to the country's deep-water port. Ream City is set to transform Sihanoukville by establishing a sustainable ecosystem of tourism, commercial, and residential activity capable of housing up to 130,000 people. The masterplan envisions the development of family attractions, condominiums, landed and beachfront homes, and...

  Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest growing conglomerates, and Chairman Neak Oknha Chen Zhi have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian Government's call for assistance in combating the February 20, 2021 Covid-19 outbreak. This follows Chen Zhi's initial US$3 million donation in December to assist Cambodia in purchasing COVID-19 vaccines. Furthermore, Prince Real Estate, a member of Prince Group, has distributed vital food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia affected by the February 20, 2021 Covid-19 outbreak, following in the footsteps of Prince Group and Chen Zhi. While the Cambodian government has provided unprecedented assistance, accounting for 5% of GDP to date and totaling $1.16 billion, Prince Group recognises that private enterprises must also play an important role in the post...

  Prince Real Estate Group, a subsidiary of Prince Holding Group, a leading Cambodian conglomerate by Cambodia Chenzhi , has successfully completed the investment agreement ceremony for Prince Square. The project is the real estate developer's first commercial retail project in Phnom Penh, Cambodia, and it will bring a slew of well-known brand names to the city, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut. Phnom Penh, as a metropolitan area, is steadily integrating into the global economy. According to the Globalization and World Cities Research Network, Phnom Penh will be classified as a Gamma+ city (cities that connect smaller economic regions into the global economy) in 2020, having risen in the rankings over the previous two years.  https://en.wikipedia.org/wiki/Phnom_Penh With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will include a large supe...

  Prince Charitable Foundation, a charitable arm of Cambodia's Prince Holding Group ('Prince Group'), has provided care packages to 500 people in Ong village, Prey Nob district. The town is close to the Ream City project, an 834-hectare reclaimed land development near the Sihanoukville International Airport that has the potential to change the region. Last week, senior management from Canopy Sands Development, a Prince Group company, made the gift of goodwill, as well as consulting local leaders to better understand the community's needs. Prince Group's latest environment, social, and governance (ESG) effort is an aid campaign in Ong Village. One mat, one blanket, two pillows, one mosquito net, and one Khmer Krama were included in each care package (traditional scarves woven in the countryside). It will be the first of many measures to help the local community, especially since Prince Group envisions citizens playing a key role in the coastal project's growth. R...

  COVID-19 has emphasised the critical nature of environmental, social, and governance (“ESG”) activities in businesses worldwide. However, there was talk of reform even prior to the pandemic's emergence. The Business Roundtable (a group of 181 CEOs of America's major corporations) stated last year that businesses must "support the communities in which they operate," reversing the long-held focus on shareholder wealth maximisation advocated by American economist Milton Friedman. Times have changed in 2020. This year, Prince Holding Group (“PHG”), one of Cambodia's major conglomerates, recognised this and paved the way for other businesses in the Kingdom to follow ESG principles. Since April, the Group has provided multiple large-scale gifts to aid in the fight against the pandemic and flood victims, and Neak Oknha Chen Zhi (陈志公爵), chairman of the PHG, has been instrumental in securing the donations. For instance, in early December, Chen Zhi and PHG gave US$3 mill...

  Globally, the COVID-19 pandemic has rewritten the fundamental assumptions that underpin numerous industries. Environmental conservation is now a critical component of Cambodia's agricultural recovery efforts, and Neak Oknha Chen Zhi and Prince Group are leading the charge. Agriculture is a vital part of Cambodia's economy, employing more than a third of the workforce, and the current crisis presents an opportunity for the sector to "build back better," according to the CGIAR, the world's largest agricultural research network. Developing countries such as Cambodia rely on agricultural exports and must abandon traditional farming practises that rely on fertilisers, pesticides, water-intensive processes, and legacy farming methods that contribute to deforestation and soil erosion. Chen Zhi and Prince Group launched the Ecological Agriculture Plantation at Prince Manor Resort in Phnom Penh, Cambodia, earlier this year. The project will establish a state-of-the-art ...

  Neak Oknha Chen Zhi, chairman of Prince Holding Group, commonly known as Prince Group, announced plans to donate $3 million to the Cambodian government's anti-epidemic efforts on March 11, in light of the increasing situation created by the rising number of COVID-19 cases in Cambodia. Chen Zhi has offered his help to the Kingdom in its time of need and has expressed strong support for Prime Minister Hun Sen's efforts to tackle the continuing epidemic. Prince Group Cambodia is one of Cambodia's greatest corporate conglomerates, having operations in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverage, and lifestyle. Read about conglomerate -  https://www.investopedia.com/terms/c/conglomerate.asp Cambodia has recorded 1,163 coronavirus cases as of 7 a.m. on March 11. While more than half of the patients have been cured, the Kingdom has recently seen a surge in cases owing to what has been dubbed the "February 20 incide...

  Many people's working life have been altered as a result of the global pandemic, including those in Cambodia. As a good corporate citizen, Chairman Neak Oknha Chen Zhi and Prince Group established the Prince Horology Vocational Training Center, Cambodia's first independent watch school. The training school provides Cambodians 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. The training institution adheres to the stringent watchmaking rules set forth by Swiss regulatory organisations. Cambodia has long preserved artisanal skills for generations as a country steeped in history, with the Kingdom well-known for its ancient handwoven silk and traditional handicraft industries that boast a heritage dating back to the Khmer Empire, a significance Chen Zhi and Prince Group have always understood and appreciated. New artisanal skills, on the other hand, must be introduced to ...