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 provided a platform for a strategic debate on the project’s objective. It has the potential to revolutionize the regional business landscape and create sustainable growth through transparent practices and collective action by bringing together prominent stakeholders and industry experts.
In the upcoming article, explore details about this innovative initiative and the benefits it brings to investors within the region.
Involved Stakeholders and Partners: Cultivating Trust Through Transparency
During the launch event, PCA brought together 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 vital importance of the ACT Project in maintaining the rule of law and advancing 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 boosting the number of companies willing to voluntarily implement accountability standards and ethical business practices.
Key leaders’ statements supporting the initiative
Brian Nichols on 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, the Regional Advisor for Latin America and the Caribbean at Transparency International, emphasized 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 from Grupo Ficohsa’s Endorsement
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.”
Supporting the Central America Forward Initiative
The ACT Project builds on Vice President Kamala Harris’s Central America Forward (CAF) initiative, launched in February 2023, which introduced the Good Governance, Good Jobs Declaration. This declaration reaffirmed the ongoing commitment of the U.S. government and PCA to tackle corruption and safeguard 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.
Assistance and Best Practices Provided by the ACT Project
The ACT Project aids participating companies by enhancing their capabilities, as well as that of their value chains, to adopt and implement transparent business practices.
Through offering best practices and technical support, the project aids businesses in refining their ethical and compliance procedures to align with international standards across various domains. Companies involved can enhance their fraud and corruption risk management and strengthen their compliance structures by integrating these standards into their operations.
About the Partnership for Central America
The Partnership for Central America is a non-governmental, non-partisan organization that works alongside multinational companies to generate economic opportunities for underrepresented communities in El Salvador, Guatemala, and Honduras.
Serving as a coordinating body for Vice President Harris’s Call to Action, it backs actionable solutions aimed at enhancing economic opportunities, tackling climate, education, and health challenges, and encouraging sustained investments and workforce advancement.
