Prince Group Joins Asia’s Responsible Enterprise Club
NGO Enterprise Asia picks Prince Group in Cambodia for Social Empowerment award; Organizer receives more than 500 entries
PHNOM PENH, CAMBODIA - Media OutReach - 17 September 2021 - Prince Holding Group ("Prince Group"), one of Cambodia's largest and fastest growing conglomerates, has been recognized for responsible entrepreneurship at the 2021 Asia Responsible Enterprise Awards (AREA). Prince Group was commended for its high-impact work during the COVID-19 epidemic in Cambodia. Being the fifth award received by Prince Group this year, regional and international judging panels have highlighted the company as a leading Asian business championing sustainable development in Cambodia and across the ASEAN region.
Established in 2011, AREA seeks to identify examples of green leadership, investment in people, health promotion, social empowerment, corporate governance, circular economy leadership and responsible business leadership. It has worked to create a community of like-minded peers so that the best businesses in Asia learn from one another, with Prince Group now joining the list. It aims to promote corporate activity in line with UN Sustainable Development Goals.
Other AREA awardees include Foxconn Education Foundation, WPP India Foundation and King Power International Co., Ltd. Prince Group was recognized under the Social Empowerment category for a multi-sector response that saw it carry out rapid and coordinated activity involving a partnership of business units, governmental departments and non-governmental organizations. Previously, Prince Group was also recognized for its COVID-19 corporate response in the Stevie Awards Asia Pacific while Neak Oknha Chen Zhi, Chairman of Prince Group, won Entrepreneur of the Year at the 2021 International Business Awards.
Over the past year, the Group has launched the Chen Zhi Scholarship program for 400 Cambodian university students alongside the Ministry of Education Youth and Sport (MoEYS), contributed US$1 million in aid to civil society organizations better placed 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 organized several rounds of COVID-19 vaccinations to ensure 3,500+ employees were fully vaccinated. Focusing 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, aiming to transform Sihanoukville with a sustainable ecosystem of tourism, commercial and residential activity with the potential to house up to 130,000 residents.
"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 US$2 billion in local projects and the conglomerate will continue to affirm its long-term commitment to Cambodia in various ways on a continuous basis.
About Prince Holding Group:
Prince Holding Group is one of the largest conglomerates in Cambodia, with its various units focusing on three core areas: real estate development, financial services and consumer services.
Prince Holding Group's key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.
Rising foreign direct investment, free trade agreements with leading countries and future participation in the Regional Comprehensive Economic Partnership are expected to act as key drivers for the Cambodian economy, supported by pro-industry policy initiatives by the government.
Leveraging a network of industrial, business and financial professionals across Asia, Prince Holding Group has laid the foundation to be a vital conduit for local and international capital. The Group is firmly committed to the long-term development of Cambodia. For example, Prince Holding Group is developing Ream City, an upcoming tourism and residential project that will be one of Cambodia's first sustainable real estate projects, aiming to secure $16 billion in total investment for the region. Located conveniently within a 10-minute drive from the Sihanoukville International Airport, the project aims to contribute to economic recovery in Sihanoukville.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards programme recognises and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.