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Neak Oknha Chen Zhi and Prince Group Cambodia Leading on the ESG front

Chen Zhi is the chairman of Prince Group, one of Cambodia’s biggest and fastest growing corporate conglomerates, but he is little recognized.

Despite his substantial business interests in Cambodia, Chen Zhi of Prince Group seems to be maintaining a low profile aside from his official Twitter and LinkedIn profiles, which are most likely handled by his handlers.

He is commonly referred to as Chen Zhi, and he is of Chinese descent who later became a naturalized Cambodian citizen. In 2010, he visited Cambodia and met with Prime Minister Hun Sen.

His significant interest in Prince Real Estate has resulted in the development of several projects in Cambodia, including Phnom Penh and Sihanoukville. These endeavors paved the way for the construction of over a million square meters.

The Prince Plaza Center, the Prince Modern Plaza, the Prince IT Building, and the Prince City Center are examples of such projects. They are currently under construction, but they will be finished shortly.

Belt Road Capital Management, Prince Bank, Cambodia Airways, Prince Supermarket, Awesome Global Investment Group, and Canopy Sands Development are all part of the Prince Group.

It would not be shocking if he invests in other firms with benefit potential.

In addition to his business duties, he is active in philanthropy.

2020 was a year of worldwide challenges as a result of the Covid-19 epidemic. Millions of people have died as a result of the Covid-19 pandemic. The pandemic did not spare Cambodia. During the same time frame, Cambodia was also hit by a big flood tragedy.

Chen Zhi made his presence felt in Cambodian society through a year-long sequence of charitable acts, including the decision to donate $3 million to help Cambodia purchase 1 million COVID-19 vaccines.

Chen Zhi’s Prince Group announced an additional US$3,000,000 contribution to aid in pandemic preparedness activities in Cambodia in February 2021. The cumulative contribution to the Covid-19 war will have been $6,000,000, plus the original vaccine donation last year.

As a result of these donations, food has been given to 804 families and 234 police officers in Phnom Penh, Cambodia. These individuals had been contaminated by the pandemic. As part of the ESG initiative, Chen Zhi’s donation will assist the Cambodian government in vaccinating at least 80% of the country’s almost 13 million population.

Chen Zhi also assisted those affected by the flooding in Cambodia.

Aside from monetary donations, Chen Zhi and the Prince Group invested in Cambodian capability growth. Handwoven silk and traditional craftsmanship in Cambodia have a long history stretching back to the Khmer Empire, which Chen Zhi has long respected.

In that vein, Chen Zhi has made a generous donation to establish the Prince Horology Vocational Training Center, which provides full and partial scholarships to promising Cambodian students seeking to learn new watchmaking skills.

Chen Zhi’s attempts to improve Cambodians’ skills would help the nation move from an emerging to a mature economy. This is reflected in his attempts to abandon conventional agricultural practices. These activities come at a time when farming income is said to have been affected by severe weather, resulting in flooding and droughts, and to have dropped by more than half in the first quarter of 2020.

Farmers in Cambodia faced significant challenges right before the 2020 pandemic. Prices for large agricultural commodities such as paddy rice, cassava, and vegetables have dropped dramatically. Soil productivity has also fallen. The effect of a pandemic in 2020, on the other hand, will worsen farmers’ livelihoods.

Chen Zhi developed the Ecological Agricultural Plantation to solve these farming problems. Cambodia’s agriculture market will be transformed by the Prince Manor Resort plantation. Cambodians must be able to understand and use modern agricultural techniques. Global and local agricultural professionals would oversee the operations.

The 136,000-square-meter Prince Manor Resort in Phnom Penh, Cambodia, will open in October 2020 as part of the country’s efforts to attract tourists through eco-tourism. Guests will stay in hotels to see the astounding level of innovation used by agricultural specialists in contemporary farming techniques. For example, an intelligent control system controls temperature, humidity, carbon dioxide, sunshine, and other variables 24 hours a day, seven days a week on the 10,000-square-meter plantation. 

The resort also has cutting-edge reverse osmosis water filtration and advanced water and fertilizer systems.

The plantation will be used to engage visitors, including teachers, relatives, and other stakeholders. Chen Zhi and Prince Group formed the resort as a responsible corporate conglomerate dedicated to the long-term development of Cambodia’s tourism and agriculture industries.

Chen Zhi is an environmental, social, and governance (ESG) advocate, with his Prince Holding Group engaging in a number of efforts to assist people in tough financial circumstances at a time when the world is in the grip of a severe crisis.

Many Cambodian companies are welcomed and required to follow ESG values in order to improve their economic performance and draw more foreign investment. This will not only continue to improve the lives of Cambodians, it will also shift Cambodia from the developing to the developed world.

The circumstances surrounding Chen Zhi’s arrival in Cambodia piqued people’s attention. He may have relationships with individuals from various backgrounds. Because of his real estate experience and contacts, he is eager to excel in large-scale ventures. His adept networking abilities may have assisted him in turning a profit.

While Chen Zhi prefers to remain anonymous so much of his work is done behind the scenes, he has assisted Prince Group in the launch of over 240 charity activities. In reality, the Prince Charitable Foundation is the Prince Group’s busiest allotment when Chen Zhi is not operating in finance, aviation, retail, or real estate growth.

Chen Zhi and the Group played an important role in ensuring that a significant number of citizens were working in Phnom Penh. They accomplished this by embarking on a large-scale initiative. Ream City’s release date has been announced. The development of an 834-hectare city in Sihanoukville will be part of this $16 billion initiative.

Ream City would have typical developed city features such as malls, colleges, landed housing, condos, restaurants, beach resorts, beach houses, parks, and so on since it would be built on reclaimed land.

If Chen Zhi’s dreams come true and the current rate of growth persists, he will be a household name in Cambodia.

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