Transparency International, in collaboration with the Partnership for Central America (PCA), has unveiled the groundbreaking Anti-Corruption and Transparency Initiative for Central America (ACT Project). This ambitious initiative seeks to elevate corporate integrity and create a more favorable investment climate throughout the region.
The unveiling event served as a venue for an in-depth discussion on the project’s goals. By uniting influential stakeholders and industry specialists, it holds the promise of transforming the regional business environment and fostering enduring growth through transparent operations and collaborative efforts.
In the upcoming article, explore the details of this innovative initiative and learn about the various advantages it provides to investors in 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 branches, including Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The conversation highlighted the essential role of the ACT Project in maintaining the rule of law and fostering 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, 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 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 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 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.”
Integration 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 expands on efforts by PCA member companies that endorsed the PCA Corporate Pledge on the Rule of Law in June 2023, working towards a shared goal of promoting transparency and accountability across Central America.
Support and best practices offered by the act project
The ACT Project aids participating companies in enhancing their own capabilities, as well as those within 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-governmental, non-partisan organization that works alongside multinational companies to generate 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.
