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 kickoff event served as a stage for a strategic discussion about the project’s goals. It holds the promise to transform the regional business environment, fostering sustainable growth by promoting transparency and collaboration among key stakeholders and industry leaders.
In the upcoming article, explore this innovative initiative and learn about the various advantages it provides to investors within the region.
Involved Stakeholders and Partners: Fostering Trust via Transparency
During the launch event, PCA brought together collaborators such as AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its local branches, like Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the essential function of the ACT Project in maintaining legal principles and encouraging transparent business methods.
Partners reiterated their commitment to fostering transparency, combating corruption, protecting workers’ rights, and creating an investment-friendly environment. The conversation also highlighted the initiative’s goals and the importance of expanding the number of companies willing to voluntarily embrace accountability standards and responsible business behaviors.
Statements from key leaders endorsing the initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, 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 Discusses Ethical Practices and Investment
Luciana Torchiaro, the Regional Advisor for Latin America and the Caribbean at Transparency International, underscored the project’s dedication to ethical practices:
“The ACT Project moves beyond just meeting compliance standards, as companies commit to transparency and integrity. This initiative, backed by voluntary partners, aims to reduce corruption risks and create a reliable business atmosphere that appeals to global investors. We are confident that a transparent corporate environment will drive economic growth, enhance human capital, and support the development of sustainable societies in Central America.”
Mario Bustillo Expresses Grupo Ficohsa’s Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support 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 builds on Vice President Kamala Harris’s Central America Forward (CAF) initiative, launched in February 2023, which introduced the Good Governance, Good Jobs Declaration. This declaration reaffirmed the ongoing commitment of the U.S. government and PCA to tackle corruption and safeguard 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.
By providing best practices and technical assistance, the project enables businesses to strengthen their ethical and compliance procedures to align with global benchmarks in various fields. Companies taking part can enhance their management of fraud and corruption risks and bolster their compliance structures by adhering to these standards.
About the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental organization that collaborates with multinational corporations to create economic opportunities for underserved populations in El Salvador, Guatemala, and Honduras.
Serving as a coordinating entity for Vice President Harris’s Call to Action, it facilitates practical solutions aimed at enhancing economic opportunities, tackling challenges in climate, education, and health, and encouraging long-term investments and workforce development.
