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 event marked the debut of a strategic discussion focused on the project’s aim, presenting an opportunity to potentially transform the business environment in the region. By gathering key stakeholders and industry authorities, the initiative strives to drive sustainable development through transparent methodologies and unified efforts.
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 gathered 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 essential contribution of the ACT Project in maintaining the rule of law and endorsing transparent business operations.
The partners reiterated their commitment to fostering transparency, combating corruption, safeguarding 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 practices.
Statements from Key Leaders Endorsing 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:
“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’s Take on Ethical Practices and Investment
Luciana Torchiaro, the Regional Advisor for Latin America and the Caribbean at Transparency International, emphasized 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 Expresses Grupo Ficohsa’s Support
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 the efforts of PCA member companies that, in June 2023, committed to the PCA Corporate Pledge on the Rule of Law. This initiative aims to collectively advance transparency and accountability throughout Central America.
Support 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.
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 an independent, non-governmental organization that partners with multinational companies to develop 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, backing practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce development.
