Prince Holding Group - Entrepreneur of the Year

Company: Prince Holding Group, Cambodia
Company Description: 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, as well as Awesome Global Investment Group.
Nomination Category: Entrepreneur Categories
Nomination Sub Category: Entrepreneur of the Year - Conglomerates

Nomination Title: Neak Oknha Chen Zhi

The Cambodian economy was one of the bright spots both before and after the start of the COVID-19 pandemic. Neak Oknha Chen Zhi, who was first drawn to Cambodia many years ago, has contributed to that economic transformation via Prince Holding Group, one of the largest conglomerates in Cambodia. For his various contributions to Cambodia, including investing over US$2 Billion in the Kingdom, Chen Zhi has been bestowed the honorary title of Neak Oknha, one of the highest titles bestowed on civilians (non-royalty) by the Cambodian king.

Following the onset of the pandemic, Chen Zhi remained steadfast in his drive to embrace sustainable development and launched a yearlong discussion with Surbana Jurong, a global urban, infrastructure and managed services consultancy headquartered in Singapore, to finalize a master plan for Ream City, an 834-hectare coastal development project that is set to transform Sihanoukville by introducing a sustainable ecosystem of tourism, commercial and residential activity with the potential to house up to 130,000 residents.

It will set a precedent in the country as the master plan specifies a mixed-use development that incentivizes low-carbon transport, promotes energy saving lighting solutions, introduces green technology and carries out real estate development across all relevant stages (schematic planning, design, construction, supply chain construction) in a sustainable manner. Leveraging expertise from a cross-functional and cross-national team, the project will exceed local standards and it will also release its inaugural environment, social and governance report soon.

Prince Holding Group has been commended for its corporate response to the pandemic in the eighth annual Asia-Pacific Stevie Awards (one of the most recognizable business awards globally) and was the only Cambodian entity amidst a group of top Asian conglomerates. In response to the COVID-19 outbreak, Chen Zhi put the health and welfare of employees above all other priorities. Over the course of the pandemic, the Group increased employment, a rare achievement in Cambodia. Chen Zhi chaired several meetings to discuss COVID-19 risks and authorized the procedures for four COVID-19 tests, regular sanitation measures and a grid management protocol for all staff. He paid close attention to daily reports and conducted regular on-site visits and insisted Companies embrace work-from-home measures (not the norm in Cambodia). Meanwhile, Prince Holding Group has recently rolled out vaccinations for more than 3,000 employees currently employed with various member companies. As a result, no employee experienced an infection, and the Group was well-placed when there was a spike in COVID-19 cases this year due to a second wave.

Chen Zhi has also repeatedly answered calls for assistance from Cambodian authorities – in February, he donated US$3 million to anti-pandemic efforts in the Kingdom after donating an equal sum last December to help Cambodia purchase 1 million COVID-19 vaccines.

Back in 2019, Chen Zhi and the Prince Real Estate Charitable Foundation supported the Cambodian National Volleyball Team contributing US$500,000 to the local volleyball federation to support training and competition preparation activities ahead of the 2019 SEA Games. This included an intensive two-month training program in China and visits to competitions in Thailand eventually leading to a historic win over arch-rivals Vietnam. A year later, Chen Zhi also approved the investment and founding of the Prince Horology Vocational Training Center, Cambodia's first independent watch school, giving Cambodians the opportunity to learn a new artisanal skill - watchmaking - and gain experience to help them in job markets in Cambodia and abroad.

Not a year goes by without Chen Zhi fulfilling his role as an entrepreneur investing in greenfield opportunities that can make a long-term difference to Cambodia’s prospects.

Two years of active and thoughtful leadership have raised Chen Zhi’s profile and he is now one of the top entrepreneurs in Cambodia. He is charting a path towards sustainable development for the Group that keeps in mind the expectations of a broad group of stakeholders while creating substantial economic value.

-He was recognized as a “neak oknha” after the Group invested US$2 billion
-His vision led to Ream City, a coastal project with sustainability at its core
-He signed off on an ESG report, the first of its kind by a private Cambodian enterprise
-His support of the Volleyball Team helped it improve at the 2019 SEA Games
-He launched a watchmaking school and an agricultural hub where Cambodians learn modern skills
-He donated US$6 million to purchase 1 million vaccines and for anti-epidemic efforts
-He arranged vital supplies for families in hard-hit communities
-He built up Prince Charitable Foundation into a philanthropic force. This year, it crossed the milestone of 500,000 beneficiaries
-Not a single employee experienced an infection. The Group won an award for its corporate response
-The Group has also conducted vaccination drives in a timely manner