Chen Zhi and Prince Group Trailblazing Cambodia's Private Sector ESG Initiatives
Neak Okhna Chen Zhi is the Chairman of Prince Group (officially Prince Holding Group), which is responsible for Cambodia’s enormous large scale development. Not much is known about him as he prefers to keep a low profile. However, through his ceaseless efforts, he has helped to bolster Cambodia through persistent business endeavours, investments and philanthropic contributions.
2020 was a year of global difficulties, due to the outbreak of the Covid-19. The pandemic has raged across the whole world, causing millions of lives. Even Cambodia was not spared from the pandemic. At the same time, a massive flood disaster also occurred in Cambodia.
As a forefront runner in environment, social and governance (ESG) practices, Chen Zhi spearheaded efforts to help the government of Cambodia fight against the Covid-19 pandemic and provide assistance to flood victims. Since April, Prince Group has made huge donations to help out. Chen Zhi is said to be the main figure behind these donation drives, which include a US$3,000,000 donation the Cambodia government to help procure 1 million vaccines for Covid-19.
In February 2021, a further similar amount of US$3,000,000 was also announced by Prince Group to assist in anti-pandemic efforts in Cambodia. Read more here: https://www.khmertimeskh.com/50824199/chen-zhi-and-prince-group-commit-3-million-to-help-cambodia-combat-rising-covid-19-caseload/
Including the initial vaccine donated last year, the total amount of donation to fight Covid-19 would have been US$6,000,000.
Through these donations, vital supplies of food have been given to 804 families and 234 police force members in Phnom Penh, Cambodia. These people have been affected by the pandemic. Chen Zhi’s donation, as part of the ESG strategy, would help the government of Cambodia to vaccinate at least 80% of the nearly 13 million population.
Such help was a noble cause to ameliorate the lives of Cambodians. It is part of the ESG principles which Prince Group is based upon. These are efforts to help the people with their current difficult financial situations in the midst of a severe crisis. But these ESG principles are not something new.
Many companies in Cambodia are encouraged and expected to abide by the ESG principles in order to strengthen their economic competitiveness and attract further foreign investments into the business environment.
Apart from making donations, Chen Zhi and Prince Group also made inroads in skills developments of the people of Cambodia. Historically, the kingdom of Cambodia is well known for its handwoven silk and traditional workmanship with a legacy dating back to the era of the Khmer Empire. Chen Zhi often appreciates this economic pride that Cambodia builds itself upon. As the pandemic severely devastated the people’s livelihoods, about 55,000 labourers have been displaced without income.
To bridge the gaps in skills development, Chen Zhi addresses it by setting up the Prince Horology Vocational Training Center in Phnom Penh, Cambodia, to help Cambodians master new skills in watchmaking. This would pave the way for people of Cambodia to not only get equipped with new skills, but to secure better employment opportunities. Related reading: https://www.taiwannews.com.tw/en/news/4107056
Chen Zhi’s efforts to improve the skills of Cambodian people would help Cambodia to transition from a developing economy to a more developed one. This is also seen in his efforts to move away from traditional farming. These efforts came as farming incomes were reportedly hit by extreme weather, resulting in floods and droughts, and have fallen more than half during the first quarter of 2020.
The scale of the difficulties of the farmers in Cambodia even went to as far before the 2020 pandemic. Prices of key agricultural commodities such as paddy rice, cassava and other vegetables experienced a severe drop. Soil productivity also declined. But the 2020 pandemic impact would only further worsened the livelihoods of farmers.
Chen Zhi set up the Ecological Agricultural Plantation to combat these farming woes. The plantation at Prince Manor Resort would be a game changer for the agricultural sector of Cambodia. The people of Cambodia would be able to learn modern farming methods and apply them later. Global and local farming specialists would oversee the processes.
Built in October 2020, Prince Manor Resort, located at Phnom Penh, Cambodia, spans 136,000 square meters and was part of eco-tourism efforts to attract visitors. The guests would stay at hotels to witness the magnificent scale of innovation being used in present farming techniques applied by agricultural experts. For instance, the 10,000 square meter wide plantation uses an intelligent monitoring system that regulates temperature, humidity, carbon dioxide, sunlight and more on a 24-hour system. The resort also has a cutting edge reverse osmosis water filtration and integrated water and fertilizer systems.
For visiting students, friends, and other stakeholders, the plantation will serve as an educational tool. Chen Zhi and Prince Group founded the resort as a responsible corporate conglomerate committed to the long-term development of Cambodia's tourism and agriculture industries.
Prince Manor Resort will also serve as a model for sustainable development initiatives in Cambodia's fast-growing economy, as nearly nine-tenths of the resort is forested ground. Spring gardens, an amusement park, a water park, and several lodges are among the resort's other amenities.
Economic and philanthropic activities would not be the only fields of involvement of Chen Zhi in Cambodia. Sports would be the other aspiration of Chen Zhi’s far-sighted goal of Cambodia’s glory. His aspiration for the sport came as he believes in the decrease in the cost of healthcare and improvement of social cohesion within Cambodia.
In line with the SEA Games in 2023, when Cambodia would be hosting for the first time, Chen Zhi has made contributions to the national men’s volleyball team. Developing the team, he sponsored their trip to Fujian, China in 2019 to undergo an intensive 2-month training program there. It was a US$100,000 contribution made by Chen Zhi.
Neak Oknha Chen Zhi of Prince Group Cambodia will continue to play an important role in Cambodia's growth by pursuing alliances and providing appropriate financial support to key industries for the benefit of Cambodians and the local economy.