Anti-Pandemic Initiatives In Cambodia

Prince Real Estate provides daily necessities to 804 impoverished families in Chamkarmon District affected by the community outbreak on February 20.

Prince Holding Group ("Prince Group"), one of Cambodia's largest and fastest growing conglomerates, and Chairman Neak Oknha Chen Zhi or Prince Chenzhi, have responded to the Cambodian Government's call for assistance in combating the February 20, 2021 Covid-19 outbreak in the Kingdom by announcing plans to donate US$3 million to anti-pandemic efforts in the Kingdom. This follows Chen Zhi's initial US$3 million donation in December to assist Cambodia in purchasing COVID-19 vaccines.

Additionally, following in the footsteps of Prince Group and Chen Zhi, Prince Real Estate, a subsidiary of Prince Group, distributed critical food supplies to 804 families in need and 234 members of the Cambodian police force in Chamkarmon District, Phnom Penh, Cambodia, which was impacted by the February 20, 2021 Covid-19 outbreak.

While the Cambodian government has provided unprecedented assistance totaling $1.16 billion, accounting for 5% of GDP thus far, Prince Group recognises that private enterprises must also play a critical role in post-pandemic recovery.

The latest donation is part of Prince Group's comprehensive environment, social, and governance (ESG) strategy for member companies. Chen Zhi's donation of US$3 million is a critical component of this strategy, assisting the Cambodian government in reaching its target of vaccinating at least 80% of the population, or nearly 13 million people, reiterating the Group's commitment to social responsibilities in Cambodia. Additionally, Prince Real Estate donated 16,080 kilograms of rice, 804 boxes of noodles, 804 cartons of fish sauce, and 804 cartons of soy sauce to households, as well as 500 cartons of purified water and 200 cartons of soft drinks to 234 police officers who have been working tirelessly in 33 locations throughout Chamkarmon District, an area that has been severely impacted by a Covid-19 outbreak.

“As a Group striving to improve the lives of local communities in Cambodia, it is our civic duty to partner with District Governor Theng So Thol and the Chamkarmon District Government. The community outbreak has affected the lives of many people in the district, and we believe that prompt and decisive action will make a key difference in ensuring a robust recovery for communities,” said Mr. Steven Wang, Chief Executive Officer of Prince Real Estate.

This is just one of several initiatives that Prince Group has organized in an efficient and expedited manner over the last two years.

Last month, Prince Charitable Foundation, the charitable arm of the Prince Group, distributed care packages to 500 families in Ong village in Cambodia's Prey Nob district. Ong village is located near the site of the US$16 billion, 843-hectare Ream City project, which is being developed on reclaimed land near Sihanoukville International Airport. While the Ream City project is set to transform the region, Prince Group has consulted with local leaders to ascertain their communities' future needs.

Prince Group will continue to support Cambodians, delivering essential materials to people in need, carrying out key community initiatives and working with socially responsible partners across the Kingdom, with a view towards empowering local communities.

About Prince Real Estate

Prince Real Estate is one of Cambodia's leading developers. Prince Real Estate was founded in 2015 and has completed numerous projects in Phnom Penh and Sihanoukville. It has played a significant role in the rapid transformation of urban Phnom Penh over the last few years, with real estate projects totaling 1 million square meters.

About Prince Holding Group

Prince Holding Group is one of Cambodia's largest conglomerates, with various subsidiaries focused on three primary areas: real estate development, financial services, and consumer services.

In Cambodia, Prince Holding Group's primary business units are Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, and Awesome Global Investment Group. Prince Holding Group has over 80 businesses in Cambodia through its subsidiaries, including real estate development, banking and finance, aviation, tourism, logistics, technology, food and beverage, and lifestyle.

Increased foreign direct investment, free trade agreements with major economies, and future membership in the Regional Comprehensive Economic Partnership are expected to act as key drivers of the Cambodian economy, bolstered by the government's pro-industry policies.

Prince Holding Group has laid the groundwork for a vital conduit for domestic and international capital by leveraging a network of industrial, business, and financial professionals across Asia. Prince Holding Group will continue to seek opportunities to contribute significantly to Cambodia's development, whether through partnerships or direct investments in critical industries, for the benefit of Cambodians and the local economy.

Reference article - https://en.wikipedia.org/wiki/Economy_of_Cambodia