Neak Oknha Chen Zhi Prince Group

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Neak Oknha Chen Zhi, Chairman of Prince Holding Group, is heavily involved in some of Cambodia's most massively scaled development projects. Despite that, little is known about him as he tends to keep a low profile. What is apparent is that he has made significant contributions to Cambodia's economy and society as a whole through a slew of charitable donations, sponsorships and business investments.

 

2020 was a year of global difficulties as a result of the Covid-19 outbreak. Millions of people have died as a result of the Covid-19 pandemic. The pandemic did not spare Cambodia. During the same time span, Cambodia was hit by a major flood disaster.

 

Chen Zhi oversaw efforts to assist the Cambodian government in fighting the Covid-19 pandemic and assisting flood victims. Since April, Prince Group has made major contributions to the relief effort. He is said to be the driving force behind these donation campaigns, including a $3 million donation to Prime Minister Hun Sen to buy 1 million Covid-19 vaccines.

 

In February 2021, Prince Group announced a related US$3,000,000 donation to aid in anti-pandemic efforts in Cambodia. The cumulative contribution to fight Covid-19, including the original vaccine donation last year, would have been $6,000,000.

 

As a result of these donations, food has been given to 804 families and 234 police officers in Phnom Penh, Cambodia. These people have been affected by the pandemic. As part of the ESG plan, Chen Zhi's donation will help the Cambodian government vaccinate at least 80% of the country's nearly 13 million citizens.

 

Aside from monetary contributions, Chen Zhi Prince Group invested in Cambodian citizens' skill growth. Cambodia has a long history of handwoven silk and traditional craftsmanship, dating back to the Khmer Empire. Chen Zhi often expresses his admiration for Cambodia's economic achievements. Because of the pandemic's extreme effects on people's livelihoods, nearly 55,000 labourers have been displaced and left unemployed.

 

Chen Zhi fills skill gaps by creating the Prince Horology Vocational Training Center in Phnom Penh, Cambodia, to help Cambodians learn new watchmaking skills. This would enable Cambodians to not only learn new skills but also secure better job opportunities.

 

Chen Zhi's efforts to improve the skills of Cambodians would help the country's transition from a developing to a more developed economy. This is also reflected in his attempts to abandon conventional farming methods. These efforts come as farming incomes are said to have been affected by severe weather, resulting in floods and droughts, and to have dropped by more than half in the first quarter of 2020.

 

Even before the 2020 pandemic, farmers in Cambodia faced significant challenges. Prices for main agricultural commodities like paddy rice, cassava, and other vegetables plummeted. Soil productivity has also fallen. The effect of the 2020 pandemic, on the other hand, will only worsen farmers' livelihoods.

 

Chen Zhi founded the Ecological Agricultural Plantation to resolve these farming issues. The Prince Manor Resort plantation will be a game changer for Cambodia's agricultural sector. Cambodians will be able to understand and apply modern farming methods. Global and local farming experts will oversee the processes.

 

The 136,000-square-meter Prince Manor Resort in Phnom Penh, Cambodia, was established in October 2020 as part of eco-tourism efforts to draw tourists. Guests will stay in hotels to see the magnificent scale of creativity used by agricultural experts in modern farming techniques. The 10,000-square-meter plantation, for example, employs an intelligent control system that controls temperature, humidity, carbon dioxide, sunlight, and other variables 24 hours a day, seven days a week. The resort also has cutting-edge reverse osmosis water filtration and integrated water and fertiliser systems.

 

The plantation will be used as an interactive tool for pupils, families, and other stakeholders who come to visit. Chen Zhi and Prince Group formed the resort as a responsible corporate conglomerate dedicated to the long-term growth of Cambodia's tourism and agriculture industries.

 

Prince Manor Resort will also serve as a model for sustainable development initiatives in Cambodia's increasingly rising economy, as nearly nine-tenths of the resort is forested. Spring gardens, an amusement park, a water park, and several lodges are among the resort's other features.

 

Chen Zhi's presence in Cambodia will go beyond economic and philanthropic efforts. Chen Zhi's long-term target of Cambodian glory will include sports as the second ambition. His interest in sports stems from his belief in lowering healthcare costs and improving social stability in Cambodia.

 

Chen Zhi has helped the national men's volleyball team prepare for the SEA Games, which Cambodia will host for the first time in 2023. He funded the team's trip to Fujian, China in 2019 for a 2-month intensive training programme in order to improve them. Chen Zhi made a $100,000 donation to the cause.

 

Such assistance was a noble cause aimed at bettering the lives of Cambodians. Chen Zhi is a pioneer in the fields of environmental, social, and governance (ESG). It is one of the ESG values that Prince Group was built on. There are attempts to help people in tough financial conditions when the world is in the grip of a serious crisis. These ESG rules, however, are not novel.

 

Many Cambodian companies are encouraged and required to follow ESG principles in order to improve their economic competitiveness and attract additional foreign investment. This will not only help to improve the lives of Cambodians, but would also shift Cambodia from a developing to a developed country.

 

Chen Zhi will continue to play an important role in Cambodia's development by pursuing partnerships and providing sufficient financial support to key industries for the benefit of Cambodians and the local economy.

 

Related reading: https://www.cambodianewswatch.org/chen-zhi-and-prince-group-making-waves-with-cambodias-esg-initiatives/