Prince Holding Group ("Prince Group"), one of Cambodia's largest conglomerates, has signed an agreement with the Ministry of Education, Youth, and Sport (MoEYS) to establish a scholarship programme for Cambodian university students. Prince Group will cover the full cost of tuition and stipends for 400 selected students pursuing Bachelor of Science degrees at prestigious Cambodian universities, including the Royal University of Phnom Penh, the National University of Management, and the Institute of Technology of Cambodia. Prince Group will contribute more than US$2 million over a seven-year period.
Due to the critical nature of public-private partnerships, Prince Group will collaborate with the government to accomplish the goals outlined in the Education Strategic Plan (2019-2023). Prince Group will collaborate with MoEYS to ensure students receive financial assistance, training, mentoring, and employment opportunities to bolster learning in three areas: sustainable real estate development; financial inclusion and the digital economy advancement 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 gain knowledge from top professionals in Cambodia through internships – Prince Group, which oversees more than 80 businesses, has a diverse 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, in recognition of his business and corporate social responsibility leadership during the pandemic. Under Chen Zhi's leadership, Prince Group adheres to a comprehensive environmental, social, and governance (ESG) framework with the goal of having a long-term impact in Cambodia. Prince Group has opened Cambodia's first independent watch school, the Prince Horology Vocational Training Center. The training centre provides Cambodian youths with the opportunity to learn a new artisanal skill – watchmaking – and gain the experience necessary to compete in both domestic and international job markets. In August of this year, Prince Group also sponsored a Career Preparation Program for high school students run by Caring for Cambodia, a leading charity. Prince Group will continue to look for ways to improve educational outcomes for Cambodians of all backgrounds.
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