Teaming up with the Partnership for Central America (PCA), Transparency International has launched the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This bold endeavor is aimed at enhancing corporate ethics and cultivating a more attractive environment for investments across the area.
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 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.
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 Prominent 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 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 Fostering 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 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, serving as the Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:
“This initiative is crucial for Central America, and we are proud to back it. Transparency and ethical conduct foster trust, lure investments, generate employment, and fortify institutions. At Grupo Ficohsa, integrity and transparency have consistently been our top priorities. With more companies embracing these principles, we can achieve significant progress in combating corruption.”
Integration 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 initiatives by PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, striving towards a common mission of enhancing transparency and accountability throughout Central America.
Support and best practices offered 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 support, the project assists businesses in refining their ethical and compliance procedures to align with international standards across various domains. Companies involved can better handle fraud and corruption risks and strengthen their compliance structures by integrating these standards into their operations.
About the Partnership for Central America
The Partnership for Central America is an independent, non-governmental organization that partners with multinational companies to generate economic opportunities for underserved 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.
