Heaptalk, Phnom Penh — For the upcoming academic year, the Prince Charitable Foundation, the charitable arm of Prince Holding Group (“Prince Group“), one of Cambodia’s largest and fastest-growing conglomerates, will sponsor the Career Preparation program run by Caring for Cambodia, a leading charity that provides free education to 7,000 impoverished students. The partnership with Caring for Cambodia, announced on International Youth Day, exemplifies how Prince Group has embarked on a new journey at a critical time when youth unemployment in Cambodia is expected to rise due to the worsening COVID-19 pandemic situation. Prince Group hopes to invest in Cambodia’s future by empowering and validating an institutional approach to youth development by supporting the Career Preparation program.
“We are pleased to partner with Prince Holding Group as we look to expand and enhance our Career Preparation program,” said Jamie Amelio, Founder and CEO of Caring for Cambodia. “In the new environment defined by the COVID-19 pandemic, high school and university students will need substantial support to help them secure a strong foundation for their futures. To achieve better educational outcomes, Caring for Cambodia believes that public-private partnerships involving potential employers like member companies of Prince Holding Group and the Ministry of Education, Youth and Sport will be key.”
Began in 2006, The Career Preparation program assists over 3,000 students each year by providing scholarship information, conducting career-related training (such as improving interview skills), offering internships, organizing career fairs, arranging visits to universities, and introducing high school students to inspirational speakers from various fields. The program provides high school students with a post-graduate toolkit, which makes a significant difference, as students graduating from Caring for Cambodia schools are 18 times more likely than the national average to enroll in universities.
“Prince Holding Group is excited to support a high-impact initiative like Caring for Cambodia’s Career Preparation program,” said Cliff Koh, Secretary-General of Prince Holding Group. “As a responsible Cambodian conglomerate that contributes to sustainable development via education, healthcare, and community engagement initiatives, sponsoring Caring for Cambodia’s Career Preparation program will help Cambodian youth at an important juncture in their lives.”
Furthermore, the program assists Caring for Cambodia alumni who are currently enrolled in university with their job search. Schools supported by Caring for Cambodia are among the few in the country that provides students with the necessary skills to qualify for jobs in high-growth industries such as telecommunications, logistics, and conservation.
In the realm of education, Prince Group has offered regular support over the years and most notably brought the art of Swiss watchmaking to Cambodia by establishing the country’s first independent watchmaking school last year, which gives Cambodian youth the opportunity to learn a new artisanal skill and gain the necessary experience to help them in job markets in Cambodia and abroad. The Group follows an established environment, social and governance (ESG) strategy on behalf of member companies, with educational initiatives that bring a long-term impact a key focus.
As a part of an overarching strategy, Prince Group Chairman, Neak Oknha Chen Zhi has also answered the call for assistance from the Cambodian Government to combat the February 20 COVID-19 outbreak by announcing plans to donate US$3 million to anti-pandemic efforts. Towards the end of 2020, Chen Zhi also committed US$3 million to help Cambodia purchase COVID-19 vaccines.
Over the years, Prince Charitable Foundation has organized more than 250 charitable events and donated funds and other materials worth more than US$14 million, benefitting more than 500,000 people.
Prince Group will continue to support Cambodians from all walks of life and take a holistic approach to education support in the Kingdom, regularly engaging with the best-in-class solution providers and seeking high-impact initiatives that will ensure sustainable and enduring progress.
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 leading sustainable real estate projects, aiming to secure close to $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.
About Prince Charitable Foundation:
Being dedicated to public charity, advocating corporate duty, and promoting social harmony and progress, Prince Charitable Foundation, a member of Prince Holding Group, focuses on social welfare projects, including municipal development and ecological protection with specific attention towards helping school dropouts, disabled, and the elderly. With a national mandate, Prince Charitable Foundation was seeded with US$1 million by Prince Holding Group, with the sum procured from the sales revenue of properties. It has also attracted a significant amount of donations from other individuals and organization. Prince Charitable Foundation Organization has launched more than 250 charity events, benefiting 500,000 people, with donations exceeding $14 million.
About Caring for Cambodia:
Caring for Cambodia (CFC) is a nonprofit, nongovernmental, charitable organization dedicated to educating a generation of Cambodian children today, to make a difference for Cambodia’s tomorrow. CFC’s philosophy is that only through education can true change occur. By providing a multi-pronged approach, CFC removes barriers and provides quality education to 7,000 students annually across 21 schools from preschool through 12th grade in the Siem Reap area of Cambodia. This is accomplished through 10 innovative programs including Health Education, ICT/STEM, and Gender Equity, all at no cost to the students. CFC is committed to Cambodian leadership in order to ensure its mission is sustainable.
