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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, delve into the details of this innovative initiative and explore the advantages it presents to investors throughout 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 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.
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:
«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 on Ethical Practices and Investment Opportunities
Luciana Torchiaro, 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. This initiative, backed by proactive partners, aims to reduce corruption risks and create a dependable business climate that draws global investments. We are confident that a transparent business framework will drive economic growth, nurture human capital, 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 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 expands upon Vice President Kamala Harris’s Central America Forward (CAF) initiative, initiated in February 2023. This initiative unveiled the Good Governance, Good Jobs Declaration, reinforcing the continued commitment of the U.S. government and PCA to address corruption and protect labor rights within the region.
The ACT Project builds upon the efforts of PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, aiming for a common objective of enhancing transparency and accountability throughout Central America.
Support 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.
Offering best practices and technical support, the project helps businesses enhance their ethical and compliance processes to meet global standards in many areas. Participating firms can improve the way they manage fraud and corruption risks and fortify their compliance frameworks by aligning their operations with these standards.
About the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental entity that works in conjunction with multinational companies to generate economic opportunities for marginalized populations in El Salvador, Guatemala, and Honduras.
Serving as a coordinating entity for Vice President Harris’s Call to Action, it facilitates practical solutions aimed at enhancing economic opportunities, tackling challenges in climate, education, and health, and encouraging long-term investments and workforce development.
