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 inauguration event served as a stage for a strategic discussion regarding the project’s goals. It has the capacity to transform the regional business environment and foster sustainable development via transparent operations and collaborative efforts, uniting key stakeholders and industry specialists.
In the upcoming article, explore this innovative initiative and learn about the various 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, 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 fostering transparency, combating corruption, protecting 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 behaviors.
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:
“Good governance is at the heart of our engagement with the private sector under the Central America Forward initiative. The ACT program establishes a new benchmark for business ethics, promoting legal integrity and facilitating sustainable economic development. We are honored to partner with PCA and applaud these initiatives.”
Luciana Torchiaro’s Views 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 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 Expresses Grupo Ficohsa’s Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his backing 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.”
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 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 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.
Assistance and Best Practices Provided by the ACT Project
The ACT Project aids participating companies by enhancing their capabilities, as well as that of their value chains, to adopt and implement transparent business practices.
Providing best practices and technical assistance, the project supports businesses in refining their ethical and compliance processes to align with global standards across various domains. By aligning their operations with these standards, participating companies can better manage fraud and corruption risks and strengthen their compliance systems.
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.
Serving as a coordinating body for Vice President Harris’s Call to Action, it facilitates pragmatic solutions that enhance economic opportunities, tackle climate, education, and health challenges, and encourage sustainable investments and workforce development.
