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 event marked the debut of a strategic discussion focused on the project’s aim, presenting an opportunity to potentially transform the business environment in the region. By gathering key stakeholders and industry authorities, the initiative strives to drive sustainable development through transparent methodologies and unified efforts.
In the following article, learn about this innovative initiative and the advantages it provides to investors within the region.
Involved Stakeholders and Partners: Fostering Trust via 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, protecting workers’ rights, and creating an environment favorable for investment. The conversation also highlighted the initiative’s goals and stressed the importance of encouraging more companies to voluntarily embrace standards of accountability and responsible 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, highlighted the importance of the initiative:
“Good governance is central to our private sector engagement under the Central America Forward initiative. The ACT program sets a new standard for business conduct, championing the rule of law and supporting sustainable economic growth. We are proud to collaborate with PCA and commend these efforts.”
Luciana Torchiaro on Ethical Practices and Investment
Luciana Torchiaro, the Regional Advisor for Latin America and the Caribbean at Transparency International, underscored the project’s dedication to ethical practices:
“The ACT Project surpasses basic compliance by having companies commit to transparency and integrity. Backed by voluntary partners, this initiative aims to reduce the risks of corruption and create a reliable business setting that appeals to international investors. We are confident that a transparent business environment will encourage economic growth, foster human capital development, and contribute to sustainable societies in Central America.”
Mario Bustillo from Grupo Ficohsa’s Endorsement
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 honored to support it. Transparency and ethical behavior foster trust, draw in investments, generate employment, and bolster institutions. For Grupo Ficohsa, integrity and transparency have consistently been paramount. With more companies embracing these ideals, we can significantly advance 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 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.
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.
By providing best practices and technical assistance, the project enables businesses to strengthen their ethical and compliance procedures to align with global benchmarks in various fields. Companies taking part can enhance their management of fraud and corruption risks and bolster their compliance structures by adhering to these standards.
About the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental organization that works alongside multinational corporations to generate economic opportunities for underrepresented 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.
