Transparency International, in conjunction with the Partnership for Central America (PCA), has launched an innovative endeavor known as the Anti-Corruption and Transparency Initiative for Central America (ACT Project). This pioneering project aims to enhance corporate honesty and foster a more inviting environment for investments across the area.
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 next article, discover what this brand-new initiative is and what kind of benefits it offers to investors in the region.
Key Stakeholders and Collaborators: Fostering Trust via Transparency
During the launch event, PCA brought together collaborators such as AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its local branches, like Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the essential function of the ACT Project in maintaining legal principles and encouraging transparent business methods.
Partners reaffirmed their dedication to promoting openness, thwarting corruption, defending workers’ rights, and establishing an atmosphere that is conducive to investment. The discussion also emphasized the objectives of the initiative and the significance of increasing the number of businesses that are prepared to voluntarily adopt accountability standards and responsible 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:
“Good governance is pivotal to our involvement with the private sector as part of the Central America Forward initiative. The ACT program establishes a new benchmark for business practices, promoting the rule of law and encouraging sustainable economic growth. We take pride in partnering with PCA and applaud these efforts.”
Luciana Torchiaro on Fostering 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 transcends basic compliance, as companies commit to transparency and integrity. Supported by voluntary partners, this initiative aims to reduce corruption risks and create a reliable business environment that draws global investments. We are confident that a transparent business setting will drive economic growth, enhance human capital development, and foster sustainable communities 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 vital for Central America, and we are honored to support it. Transparency and ethical behavior establish trust, draw investments, generate employment, and bolster institutions. At Grupo Ficohsa, we have always prioritized integrity and transparency. With more companies embracing these principles, we can make significant strides in combating corruption.”
Integration with the Central America Forward Initiative
The ACT Project builds on Vice President Kamala Harris’s Central America Forward (CAF) initiative, launched in February 2023, which introduced the Good Governance, Good Jobs Declaration. This declaration reaffirmed the ongoing commitment of the U.S. government and PCA to tackle corruption and safeguard labor rights in the region.
The ACT Project builds upon the endeavors of PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, all aiming for a unified mission to enhance transparency and accountability throughout Central America.
Assistance and Best Practices Provided by the ACT Project
The ACT Project aids participating companies in enhancing their own capabilities, as well as those within 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 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, aiding in the development of practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce advancement.
