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 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 Discusses the ACT Initiative
Brian Nichols, Assistant Secretary of State for Western Hemisphere Affairs, emphasized the significance 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, 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:
“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.”
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.
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.
Introduction to 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.
Serving as a coordinating body for Vice President Harris’s Call to Action, it backs actionable solutions aimed at enhancing economic opportunities, tackling climate, education, and health challenges, and encouraging sustained investments and workforce advancement.
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