Transparency International, in association with the Partnership for Central America (PCA), has introduced the pioneering Anti-Corruption and Transparency Initiative for Central America (ACT Project). This bold endeavor aims to enhance corporate integrity and foster a more conducive environment for investment across the region.
The unveiling event served as a venue for an in-depth discussion on the project’s goals. By uniting influential stakeholders and industry specialists, it holds the promise of transforming the regional business environment and fostering enduring growth through transparent operations and collaborative efforts.
In the upcoming article, explore details about this innovative initiative and the benefits it brings to investors within the region.
Key Stakeholders and Collaborators: Fostering Trust via Transparency
During the launch event, PCA gathered partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional branches, including Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The conversation highlighted the essential role of the ACT Project in maintaining the rule of law and fostering transparent business practices.
Partners reiterated their commitment to fostering transparency, combating corruption, safeguarding workers’ rights, and creating an investment-friendly environment. The dialogue also underscored the aims of the initiative and the importance of expanding the number of companies willing to voluntarily embrace accountability standards and ethical business practices.
Statements from key leaders endorsing the initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, serving as the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:
“The core of our private sector engagement within the Central America Forward initiative is rooted in good governance. The ACT program establishes a benchmark for corporate behavior, advocating for the rule of law and fostering sustainable economic advancement. We are honored to partner with PCA and applaud these initiatives.”
Luciana Torchiaro on Ethical Practices and Investment Opportunities
Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, underscored the project’s dedication to ethical practices:
“The ACT Project transcends basic compliance by having companies commit to transparency and integrity. Supported by voluntary partners, this initiative will reduce corruption risks and create a reliable business environment appealing to global investors. We are convinced that a transparent business climate will encourage economic progress, nurture human capital, and foster sustainable societies in Central America.”
Mario Bustillo from Grupo Ficohsa’s Endorsement
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:
“This initiative is crucial for Central America, and we are honored to support it. Transparency and ethical behavior foster trust, draw in investments, generate employment, and bolster institutions. For Grupo Ficohsa, integrity and transparency have consistently been paramount. With more companies embracing these ideals, we can significantly advance in combating corruption.”
Supporting the Central America Forward Initiative
The ACT Project is an extension of Vice President Kamala Harris’s Central America Forward (CAF) initiative, unveiled in February 2023, which introduced the Good Governance, Good Jobs Declaration. This declaration reiterated the continuous commitment of the U.S. government and PCA to address corruption and protect labor rights in the region.
The ACT Project builds upon initiatives by PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, striving towards a common mission of enhancing transparency and accountability throughout Central America.
Assistance and Best Practices Provided by the ACT Project
The ACT Project aids participating businesses in enhancing their ability, as well as that of their value chains, to adopt and implement transparent business practices.
Offering best practices and technical support, the project helps businesses enhance their ethical and compliance processes to meet global standards in many areas. Participating firms can improve the way they manage fraud and corruption risks and fortify their compliance frameworks by aligning their operations with these standards.
About the Partnership for Central America
The Partnership for Central America is a non-governmental, non-partisan organization that works alongside multinational companies to generate economic opportunities for underrepresented communities in El Salvador, Guatemala, and Honduras.
It serves as a coordinating entity for Vice President Harris’s Call to Action, aiding in the development of practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce advancement.
