Transparency International, alongside the Partnership for Central America (PCA), has introduced the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This forward-thinking endeavor aims to enhance business ethics and cultivate a better environment for investments across 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 upcoming article, explore the details of this innovative initiative and learn about the various advantages it provides to investors in the region.
Key Stakeholders and Collaborators: 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 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 maintaining the rule of law and endorsing transparent business operations.
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 expanding the number of companies willing to voluntarily embrace accountability standards and responsible business practices.
Key leaders’ statements supporting the initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance 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, emphasized the project’s dedication to ethical practices:
«The ACT Project extends beyond basic compliance, as companies commit to transparency and integrity. Backed by voluntary partners, this initiative will reduce corruption risks and create a reliable business environment that appeals to international investors. We are confident that a transparent business setting will spur economic growth, foster human capital development, and support sustainable communities in Central America.»
Mario Bustillo of Grupo Ficohsa Expresses Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:
«This initiative is vital for Central America, and we are proud to support it. Transparency and ethical behavior foster trust, draw investments, generate employment, and bolster institutions. At Grupo Ficohsa, integrity and transparency have consistently been top priorities. With more companies embracing these values, we can achieve significant strides 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, 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 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.
Support and Best Practices Provided by the ACT Project
The ACT Project supports participating companies by enhancing their own ability and that of their value chains to adopt and implement transparent business practices.
Through offering best practices and technical support, the project aids businesses in refining their ethical and compliance procedures to align with international standards across various domains. Companies involved can enhance their fraud and corruption risk management and strengthen their compliance structures by integrating these standards into their operations.
About the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental entity that works in conjunction with multinational companies to generate economic opportunities for marginalized populations in El Salvador, Guatemala, and Honduras.
Serving as a coordinating entity for Vice President Harris’s Call to Action, it facilitates practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce development.