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 kickoff event served as a stage for a strategic discussion about the project’s goals. It holds the promise to transform the regional business environment, fostering sustainable growth by promoting transparency and collaboration among key stakeholders and industry leaders.
In the upcoming article, explore this newly launched initiative and uncover the various advantages it presents to investors within the region.
Participants and Collaborators: Fostering Confidence Through Transparency
At the launch event, PCA convened partners such as AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, along with Transparency International and its regional chapters, including Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The discussion centered on the critical role of the ACT Project in upholding the rule of law and promoting transparent business practices.
The partners reiterated their commitment to fostering transparency, combating corruption, safeguarding workers’ rights, and creating an investment-friendly environment. The conversation also highlighted the initiative’s goals and the importance of expanding the number of companies willing to voluntarily embrace accountability standards 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:
“The core of our private sector engagement within the Central America Forward initiative is rooted in good governance. The ACT program establishes a benchmark for corporate behavior, advocating for the rule of law and fostering sustainable economic advancement. We are honored to partner with PCA and applaud these initiatives.”
Luciana Torchiaro’s Views on Ethical Practices and Investment
Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, underscored the project’s dedication to ethical practices:
“The ACT Project extends beyond basic compliance, as companies commit to transparency and integrity. Backed by voluntary partners, this initiative will reduce corruption risks and create a reliable business environment that appeals to international investors. We are confident that a transparent business setting will spur economic growth, foster human capital development, and support sustainable communities in Central America.”
Mario Bustillo of Grupo Ficohsa Expresses Support
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 honored to support it. Trust is built through transparency and ethical behavior, which in turn attracts investments, generates jobs, and fortifies institutions. At Grupo Ficohsa, integrity and transparency remain our utmost 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 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 expands on efforts by PCA member companies that endorsed the PCA Corporate Pledge on the Rule of Law in June 2023, working towards a shared goal of promoting transparency and accountability across Central America.
Assistance and Best Practices Provided by the ACT Project
The ACT Project aids participating businesses in enhancing their ability, as well as 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 entity that works alongside multinational companies to generate economic opportunities for marginalized populations 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.
