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 launch event served as a venue for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it has the capacity to transform the regional business environment and drive long-term 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: Fostering Trust via Transparency
During the launch event, PCA gathered partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional affiliates, 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 enforcing the rule of law and advancing transparent business practices.
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.
Key leaders’ statements supporting the initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, serving as 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 Discusses 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 surpasses basic compliance by having companies commit to transparency and integrity. Backed by voluntary partners, this initiative aims to reduce the risks of corruption and create a reliable business setting that appeals to international investors. We are confident that a transparent business environment will encourage economic growth, foster human capital development, and contribute to sustainable societies 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 in investments, generate employment, and bolster institutions. For Grupo Ficohsa, integrity and transparency have consistently been paramount. With more companies embracing these ideals, we can significantly advance in combating corruption.”
Coordination 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 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 offered 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.
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 organization that collaborates with multinational corporations to create economic opportunities for underserved 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.
