Transparency International, in collaboration with the Partnership for Central America (PCA), has unveiled the groundbreaking Anti-Corruption and Transparency Initiative for Central America (ACT Project). This ambitious initiative seeks to elevate corporate integrity and create a more favorable investment climate throughout the region.
The event marked the debut of a strategic discussion focused on the project’s aim, presenting an opportunity to potentially transform the business environment in the region. By gathering key stakeholders and industry authorities, the initiative strives to drive sustainable development through transparent methodologies and unified 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.
Participants and Collaborators: Fostering Confidence 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.
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.
Statements from Prominent Leaders Endorsing the Initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, Assistant Secretary of State for Western Hemisphere Affairs, emphasized the significance of the initiative:
“Good governance is central to our private sector engagement under the Central America Forward initiative. The ACT program sets a new standard for business conduct, championing the rule of law and supporting sustainable economic growth. We are proud to collaborate with PCA and commend these efforts.”
Luciana Torchiaro on Ethical Practices and Investment Opportunities
Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, highlighted the project’s commitment to ethical practices:
“The ACT Project goes beyond mere compliance, with companies pledging to transparency and integrity. This initiative, supported by voluntary partners, will mitigate corruption risks and establish a trustworthy business environment that attracts global investments. We believe that a transparent business landscape will promote economic growth, human capital development, and sustainable societies in Central America.”
Mario Bustillo of Grupo Ficohsa Shows Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:
“This initiative is essential for Central America, and we are proud to endorse it. Transparency and ethical conduct build trust, attract investments, create jobs, and strengthen institutions. At Grupo Ficohsa, integrity, and transparency have always been top priorities. If more companies adopt these values, we can make meaningful progress in the fight against 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.
Support and Best Practices Provided by the ACT Project
The ACT Project aids participating companies by enhancing their own capabilities, as well as those 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.
Introduction to the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental organization that works alongside multinational corporations 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 facilitates pragmatic solutions that enhance economic opportunities, tackle climate, education, and health challenges, and encourage sustainable investments and workforce development.
