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 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 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 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.
Statements from Key Leaders Endorsing the Initiative
Brian Nichols’ Perspective on 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’s Take on 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 goes beyond mere compliance, with companies pledging to transparency and integrity. This initiative, supported by voluntary partners, will mitigate corruption risks and establish a trustworthy business environment that attracts global investments. We believe that a transparent business landscape will promote economic growth, human capital development, and sustainable societies in Central America.”
Mario Bustillo of Grupo Ficohsa’s Support
Mario Bustillo, serving as the Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:
“This initiative is vital for Central America, and we are honored to support it. Transparency and ethical behavior establish trust, draw investments, generate employment, and bolster institutions. At Grupo Ficohsa, we have always prioritized integrity and transparency. With more companies embracing these principles, we can make significant strides in combating corruption.”
Synergy with 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 initiatives of PCA member companies that backed the PCA Corporate Pledge on the Rule of Law in June 2023, collaboratively aiming to advance 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 support, the project assists businesses in refining their ethical and compliance procedures to align with international standards across various domains. Companies involved can better handle fraud and corruption risks and strengthen their compliance structures by integrating these standards into their operations.
About the Partnership for Central America
The Partnership for Central America is an independent, non-governmental organization that partners with multinational companies to generate economic opportunities for underserved communities in El Salvador, Guatemala, and Honduras.
It acts as a coordinating body for Vice President Harris’s Call to Action and supports practical solutions for advancing economic opportunity, addressing climate, education, and health challenges, and promoting long-term investments and workforce development.
