Awardees expected to help Cambodia work towards achieving a sustainable future
PHNOM PENH, CAMBODIA - Media OutReach - 5 April 2022 - Prince Foundation, the philanthropic arm of Prince Holding Group, one of Cambodia's largest and fastest-growing conglomerates, announced the names of 100 young and bright Cambodian minds as the inaugural batch for the Chen Zhi Scholarship.
The scholarship program is a progressive initiative under the leadership of philanthropist Chen Zhi, Chairman of Prince Holding Group, in collaboration with MoEYS. The recipients will be pursuing their education goals through reduced barriers such as limited financial circumstances in their academic journey. The scholarship will foster future talents for the sustainability of Cambodia's major sectors, such as flourishing construction in the real estate sector, advancing financial inclusion and the digital economy in the banking and finance industries, and helping to promote world-class hospitality standards meeting the future human capital needs of the local economy. In addition, this will open doors for Cambodia to raise its standard competitively in the international arena.
"We were excited to receive more than 1,500 applications submitted over three months for the inaugural batch of Chen Zhi Scholarship," said Gabriel Tan, Chief Communications Officer of Prince Holding Group. "We have now finalised a hundred top achievers across Cambodia in hopes of ensuring more talents receive a solid foundation in pursuing their dreams, to build a better future for Cambodia."
This is the first-ever large-scale scholarship offered by Prince Foundation seeking to boost young Cambodians morale since the onset of the Covid-19 pandemic. The selection process was led by MoEYS with full support from Prince Foundation members. At the beginning of February, more than 200 applicants who performed well in their baccalaureate examinations were shortlisted and interviewed. The scholarship will offer full fees and stipends for students pursuing Bachelor's degrees at top Cambodian universities, including Royal University of Phnom Penh, National University of Management, and Institute of Technology of Cambodia.
Prince Group is working to ensure the scholarship works towards achieving the goals outlined in the Education Strategic Plan (2019-2023) that has been designed to implement much-needed education, youth, and sports reforms.
"With this scholarship program, we hope to play a part to improve and elevate the education level as well as through other ESG initiatives and thought leadership activities planned out this year. We seek to empower the 100 scholars further with various work and learning opportunities should they choose to work with us," added Gabriel.
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.
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