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 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 next article, discover what this brand-new initiative is and what kind of benefits it offers to investors in 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.
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.
Key leaders’ statements supporting the initiative
Brian Nichols’ Perspective on the ACT Initiative
Brian Nichols, the Assistant Secretary of State for Western Hemisphere Affairs, underscored 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 on Promoting 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 of Grupo Ficohsa Expresses Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support:
«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.»
Synergy with the Central America Forward Initiative
The ACT Project expands on Vice President Kamala Harris’s Central America Forward (CAF) initiative, initiated in February 2023, which unveiled the Good Governance, Good Jobs Declaration. This declaration reinforced the continuous commitment of the U.S. government and PCA in addressing corruption and protecting labor rights in the region.
The ACT Project builds upon the initiatives of PCA member organizations that signed the PCA Corporate Pledge on the Rule of Law in June 2023. Their collective aim is to advance transparency and accountability throughout Central America.
Assistance and Best Practices Provided by the ACT Project
By improving their own and their value chains’ capacity to embrace and execute transparent business practices, the ACT Project assists participating companies.
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 works alongside multinational corporations to generate economic opportunities for underrepresented communities 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.