Economic Rise Of Cambodia

  COVID-19 has emphasised the critical nature of environmental, social, and governance (“ESG”) practises in businesses worldwide. However, there was talk of change even prior to the pandemic's outbreak. The Business Roundtable (a group of 181 CEOs of America's largest corporations) stated last year that businesses must "support the communities in which they operate," reversing the long-held focus on shareholder wealth maximisation advocated by American economist Milton Friedman. Times have changed in 2020. This year, Prince Holding Group (“PHG”), one of Cambodia's largest conglomerates, recognised this and paved the way for other businesses in the Kingdom to follow ESG principles. Since April, the Group has made several large-scale donations to aid in the fight against the pandemic and flood victims, and Neak Oknha Chen Zhi (陈志公爵), chairman of the PHG, has been instrumental in securing the donations. For instance, in early December, Chen Zhi and PHG donated US$3 m

  Globally, the COVID-19 pandemic has rewritten the fundamental assumptions that underpin numerous industries. Environmental conservation is now a critical component of Cambodia's agricultural recovery efforts, and Neak Oknha Chen Zhi (陈志公爵) and Prince Group are leading the charge. Agriculture is a vital part of Cambodia's economy, employing more than a third of the workforce, and the current crisis presents an opportunity for the sector to “build back better”, according to the CGIAR, the world's largest agricultural research network. Developing countries such as Cambodia rely on agricultural exports and must abandon traditional farming practises that rely on fertilisers, pesticides, water-intensive processes, and legacy farming methods that contribute to deforestation and soil erosion. Cambodia ChenZhi and Prince Group launched the Ecological Agriculture Plantation at Prince Manor Resort in Phnom Penh, Cambodia, earlier this year. The project will establish a state-of-the

  Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest-growing conglomerates, and Chairman Neak Oknha Chen Zhi have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian government's request for assistance in combating the Covid-19 outbreak on February 20, 2021. This follows Chen Zhi's initial donation of US$3 million in December to assist Cambodia in purchasing COVID-19 vaccines. Furthermore, Prince Real Estate, a member of Prince Group, has distributed vital food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia, affected by the February 20, 2021 Covid-19 outbreak, following in the footsteps of Prince Group and Chen Zhi Cambodia . While the Cambodian government has provided unprecedented assistance, totaling $1.16 billion and accounting for 5% of GDP so far, Prince Group recognises that private businesses must also play a critical r

  Prince Charitable Foundation, the charitable arm of Prince Holding Group ('Prince Group'), one of Cambodia's largest and fastest expanding conglomerates, has provided care packages to 500 households in Ong village in Cambodia's Prey Nob province. The town is located near the Ream City project, an 834-hectare development on reclaimed land near Sihanoukville International Airport that is expected to change the region. The gesture of goodwill occurred last week, when top management from Canopy Sands Development, a Prince Group Cambodia company, used the opportunity to speak with community leaders to better understand their needs. The charity campaign in Ong Village is Prince Group's latest environmental, social, and governance (ESG) effort. Each care package included 25 kilogrammes of rice, a mat, a blanket, two pillows, a mosquito net, and a Cambodian Krama (traditional scarves woven in the countryside). It will be the first of many initiatives to support the local