Prince Holding Group ("Prince Group"), one of Cambodia's major corporations, has signed an agreement with the Ministry of Education, Youth, and Sport (MoEYS) to start a scholarship programme for Cambodian university students. Prince Group will cover all tuition and stipends for 400 selected students pursuing Bachelor of Science degrees at prominent Cambodian universities such as the Royal University of Phnom Penh, the National University of Management, and the Institute of Technology of Cambodia. Over the course of seven years, Prince Group will contribute more than $2 million.
Because public-private partnerships are critical, Prince Group will collaborate with the government to achieve the goals established in the Education Strategic Plan (2019-2023). Prince Group will collaborate with MoEYS to ensure students receive financial assistance, training, mentoring, and job opportunities to help them learn in three areas: sustainable development of the real estate sector, advancement of financial inclusion and the digital economy in the banking and finance industries, and promotion of world-class hospitality standards to meet the local economy's future human capital needs.
Students will learn from top professionals in Cambodia through internships - Prince Group, which controls more than 80 enterprises, has a varied workforce, with 20% of employees hailing from Singapore, Malaysia, and Greater China.
His Excellency Hang Chuon Naron, Cambodia’s Minister of Education Youth and Sport, commented: “We welcome the cooperation of employers that take their role as educators seriously. Cambodia’s road to recovery will require bright young minds from all parts of the country and MoEYS, along with its partners, will remove obstacles, offer targeted guidance, ensure equitable access to education and work opportunities to ensure talented students focus on learning and acquiring skills that will be important for Cambodia’s future.”
“We are pleased to launch one of Cambodia’s largest scholarship programs sponsored by a private enterprise,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group. “Prince Group’s various units are excited to welcome Cambodian students into our family as we will create strong internship and management trainee programs to train, nurture and educate the leaders of tomorrow. The Chen Zhi Scholarship seeks to provide both academic and practical experience for the students, by providing both a first-rate education and exposure to an international working experience.”
Neak Oknha Chen Zhi will spearhead the scholarship. Chen Zhi, Chairman of Prince Group, was recently named Entrepreneur of the Year among conglomerate leaders at the 2021 International Business Awards for his business and corporate social responsibility leadership throughout the pandemic. Under Chen Zhi's leadership, Prince Group adheres to a comprehensive environment, social, and governance framework (ESG) that intends to have a long-term influence in Cambodia. Prince Group has created Cambodia's first independent watch school, the Prince Horology Vocational Training Center. The training centre provides Cambodian youngsters with the opportunity to master a new artisanal skill – watchmaking – and get the expertise needed to compete in job markets in Cambodia and abroad. In August of this year, Prince Group also funded a Career Preparation Program for high school students conducted by Caring for Cambodia, a recognised organisation. Prince Group will continue to actively investigate ways to help Cambodians from all walks of life achieve improved educational achievements.
