Charity arm of Prince Group aims to be more strategic and investment-oriented in approach
PHNOM PENH, CAMBODIA – Media OutReach – 31 August 2021 – Prince Foundation, formerly known as the Prince Charitable Foundation, has announced the adoption of a new logo, a new name and a new vision statement – “Together, Building a Better Future for Cambodia”. Prince Foundation is the charity arm of Prince Holding Group (“Prince Group”), 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 Foundation will be known in Chinese as 太子慈善 (translated as “Prince Foundation”).
The rebranding exercise comes after an exhaustive review its past six years of high-impact philanthropic activities during which Prince Foundation conducted more than 250 charity events benefitting more than half a million Cambodians, with cumulative donations exceeding US$14 million. In line with the emerging trend among similar foundations in Asia – more charitable foundations in the region are seeking to become more strategic and investment-oriented in their approach – as such, Prince Foundation endeavors for its activities to be more holistic and closely integrated with Cambodia’s national development goals.
“A new logo, a new vision statement and new processes have been introduced to signal our determination to create the right framework that can bring about necessary long-term sustainable and responsible societal changes,” said Neak Oknha Chen Zhi (陈志公爵), Chairman of Prince Group. “Following the government’s lead in driving economic development, human capital upskilling, improving gender equality, we felt it was important and timely to conduct a comprehensive review and chart a new roadmap for the future.”
During the COVID-19 epidemic in Cambodia, Prince Foundation acted swiftly and came to the aid of Cambodia by donating 110,000 PPE and over US$1 million to vaccination and relief efforts in May. It came after Prince Group’s donation of US$3 million to the Cambodian government’s anti-pandemic efforts in March as well as a US$3 million donation by the Group to help Cambodia purchase 1 million COVID-19 vaccines at the end of the previous year. This year, Prince Group has won awards for its COVID-19 Corporate Response at the eighth annual Asia-Pacific Stevie Awards and the 2021 International Business Awards. Prince Foundation’s decisive action during a crisis period was commended by various international judging panels.
“We hope ‘Together, Building a Better Future for Cambodia’ will guide our team at Prince Foundation, just like how the Group has, through its corporate strategy of “Building a Better Life” for Cambodians, led to over US$2 billion in investment towards local projects,” added Chen Zhi. “Ensuring Cambodia’s recovery will be a long-term effort and we remain invested in the future of Cambodia and will offer the necessary financial and operational support to ensure Prince Foundation’s continued success.”
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.
Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia, through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.