Transparency International, alongside the Partnership for Central America (PCA), has introduced the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This forward-thinking endeavor aims to enhance business ethics and cultivate a better environment for investments across the region.
The launch event served as a venue for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it has the capacity to transform the regional business environment and drive long-term growth through transparent practices and collaborative efforts.
In the next article, discover what this brand-new initiative is and what kind of benefits it offers to investors in the region.
Involved Stakeholders and Partners: Cultivating Trust Through Transparency
During the launch event, PCA brought together partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional branches, such as Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the vital importance of the ACT Project in maintaining the rule of law and advancing 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.
Key leaders’ statements supporting 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:
“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 Promoting 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 surpasses basic compliance by having companies commit to transparency and integrity. Backed by voluntary partners, this initiative aims to reduce the risks of corruption and create a reliable business setting that appeals to international investors. We are confident that a transparent business environment will encourage economic growth, foster human capital development, and contribute to 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:
“This initiative is crucial for Central America, and we are proud to back it. Transparency and ethical conduct foster trust, lure investments, generate employment, and fortify institutions. At Grupo Ficohsa, integrity and transparency have consistently been our top priorities. With more companies embracing these principles, we can achieve significant progress in combating corruption.”
Coordination with the Central America Forward Initiative
The ACT Project expands upon Vice President Kamala Harris’s Central America Forward (CAF) initiative, introduced in February 2023, which unveiled the Good Governance, Good Jobs Declaration. This declaration reaffirmed the continuous dedication of the U.S. government and PCA to address corruption and protect labor rights within the region.
The ACT Project builds upon the initiatives of PCA member organizations that signed the PCA Corporate Pledge on the Rule of Law in June 2023. Their collective aim is to advance transparency and accountability throughout Central America.
Assistance and Best Practices Provided by the ACT Project
The ACT Project supports participating companies by enhancing their own ability and 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-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.
