Teaming up with the Partnership for Central America (PCA), Transparency International has launched the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This bold endeavor is aimed at enhancing corporate ethics and cultivating a more attractive environment for investments across the area.
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 following article, learn about this innovative initiative and the advantages it provides to investors within the region.
Key Stakeholders and Partners: Fostering Trust via 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 enhancing transparency, combating corruption, safeguarding workers’ rights, and creating an investment-friendly environment. The dialogue also highlighted the initiative’s goals and stressed the importance of encouraging more companies to willingly embrace accountability standards and ethical business practices.
Key leaders’ statements supporting the initiative
Brian Nichols’ Perspective on the ACT Initiative
Brian Nichols, the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:
“Good governance is central to our private sector engagement under the Central America Forward initiative. The ACT program sets a new standard for business conduct, championing the rule of law and supporting sustainable economic growth. We are proud to collaborate with PCA and commend these efforts.”
Luciana Torchiaro Discusses 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 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 from Grupo Ficohsa’s Endorsement
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his backing as well:
“This initiative is vital for Central America, and we are proud to support it. Transparency and ethical behavior foster trust, draw investments, generate employment, and bolster institutions. At Grupo Ficohsa, integrity and transparency have consistently been top priorities. With more companies embracing these values, we can achieve significant strides in combating 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 the endeavors of PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, all aiming for a unified mission to enhance 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.
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-partisan, non-governmental entity that works in conjunction with multinational companies to generate economic opportunities for marginalized populations in El Salvador, Guatemala, and Honduras.
It serves as a coordinating entity for Vice President Harris’s Call to Action, backing practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce development.
