Transparency International, working alongside the Partnership for Central America (PCA), has launched the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This bold endeavor aims to enhance corporate integrity and foster a more welcoming environment for investment across the region.
The inaugural event served as a forum for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it holds the promise of transforming the regional business scene. This initiative seeks to generate enduring growth through transparent practices and collaborative efforts.
In the upcoming article, explore this newly launched initiative and uncover the various advantages it presents to investors within the region.
Involved Stakeholders and Partners: Cultivating Trust Through Transparency
During the launch event, PCA gathered partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional affiliates, such as Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the essential contribution of the ACT Project in enforcing the rule of law and advancing transparent business practices.
The partners reiterated their commitment to fostering transparency, combating corruption, protecting workers’ rights, and creating an environment favorable for investment. The conversation also highlighted the initiative’s goals and stressed the importance of encouraging more companies to voluntarily embrace standards of accountability and responsible business practices.
Statements from Prominent Leaders Endorsing the Initiative
Brian Nichols’ Perspective on the ACT Initiative
Brian Nichols, serving as the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:
“Good governance is a cornerstone of our private sector involvement with the Central America Forward initiative. The ACT program establishes a fresh benchmark for company practices, advocating the rule of law and fostering sustainable economic development. We are honored to partner with PCA and applaud these efforts.”
Luciana Torchiaro on Ethical Practices and Investment
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, as companies commit to transparency and integrity. Supported by voluntary partners, this initiative aims to reduce corruption risks and create a reliable business environment that draws global investments. We are confident that a transparent business setting will drive economic growth, enhance human capital development, and foster sustainable communities in Central America.”
Mario Bustillo of Grupo Ficohsa Shows Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his backing as well:
“This initiative is essential for Central America, and we are proud to endorse it. Transparency and ethical conduct build trust, attract investments, create jobs, and strengthen institutions. At Grupo Ficohsa, integrity, and transparency have always been top priorities. If more companies adopt these values, we can make meaningful progress in the fight against corruption.”
Integration with the Central America Forward Initiative
The ACT Project draws inspiration from Vice President Kamala Harris’s Central America Forward (CAF) initiative, unveiled in February 2023. This initiative introduced the Good Governance, Good Jobs Declaration, reinforcing the continued commitment of the U.S. government and PCA to combat 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 companies by enhancing their capabilities, as well as that of their value chains, to adopt and implement transparent business practices.
Through offering best practices and technical support, the project aids businesses in refining their ethical and compliance procedures to align with international standards across various domains. Companies involved can enhance their fraud and corruption risk management and strengthen their compliance structures by integrating these standards into their operations.
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.
