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 inaugural event served as a forum for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it holds the promise of transforming the regional business scene. This initiative seeks to generate enduring growth through transparent practices and collaborative efforts.
In the upcoming article, explore the details of this innovative initiative and learn about the various advantages it provides to investors in the region.
Involved Stakeholders and Partners: Cultivating Trust Through 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, 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 on the ACT Initiative
Brian Nichols, Assistant Secretary of State for Western Hemisphere Affairs, emphasized the significance of the initiative:
“Effective governance is pivotal to our engagement with the private sector through the Central America Forward initiative. The ACT program establishes a new benchmark for ethical business conduct, advocating for the rule of law and facilitating sustainable economic growth. We are honored to partner with PCA and applaud these initiatives.”
Luciana Torchiaro’s Take on Ethical Practices and Investment
Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, stressed 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 of Grupo Ficohsa’s Support
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 investments, generate employment, and fortify institutions. At Grupo Ficohsa, integrity and transparency have consistently been paramount. If more companies embrace these principles, we can achieve significant advancements 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 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 ability, along with that of their value chains, to adopt and implement transparent business practices.
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.
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.
