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 launch event provided a platform for a strategic debate on the project’s objective. It has the potential to revolutionize the regional business landscape and create sustainable growth through transparent practices and collective action by bringing together prominent stakeholders and industry experts.
In the following article, learn about this innovative initiative and the advantages it provides to investors within the region.
Engaged stakeholders and collaborators: fostering trust through transparency
During the launch event, PCA gathered partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, in collaboration with Transparency International and its regional divisions, such as Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The conversation highlighted the essential part the ACT Project plays in supporting the rule of law and encouraging transparent business methods.
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 boosting the number of companies willing to voluntarily implement accountability standards and ethical business practices.
Statements from Key Leaders Endorsing the Initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:
«Effective governance is a cornerstone of our private sector involvement within the Central America Forward initiative. The ACT program establishes a benchmark for corporate behavior, advocating for the rule of law and promoting sustainable economic development. We are honored to partner with PCA and applaud these initiatives.»
Luciana Torchiaro’s Take on Ethical Practices and Investment
Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, stressed the project’s dedication to ethical practices:
«The ACT Project transcends basic compliance, as companies commit to transparency and integrity. This initiative, backed by proactive partners, aims to reduce corruption risks and create a dependable business climate that draws global investments. We are confident that a transparent business framework will drive economic growth, nurture human capital, and contribute to sustainable societies in Central America.»
Mario Bustillo of 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 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 is an extension of Vice President Kamala Harris’s Central America Forward (CAF) initiative, unveiled in February 2023 with the introduction of the Good Governance, Good Jobs Declaration. This declaration underscores the continuous dedication of the U.S. government and PCA to address corruption and protect labor rights within the region.
The ACT Project builds upon the efforts of PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, aiming for a common objective of enhancing 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 elevate their ethical and compliance procedures to align with international standards in various domains. Companies involved have the opportunity to enhance their management of fraud and corruption risks and strengthen their compliance structures by aligning with these standards.
About the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental organization that collaborates with multinational corporations to create economic opportunities for underserved 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.
