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 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 details about this innovative initiative and the benefits it brings to investors within 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.
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 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 a cornerstone of our private sector involvement within the Central America Forward initiative. The ACT program establishes a benchmark for corporate behavior, advocating for the rule of law and promoting sustainable economic development. We are honored to partner with PCA and applaud these initiatives.”
Luciana Torchiaro Discusses Ethical Practices and Investment
Luciana Torchiaro, the 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 by having companies commit to transparency and integrity. Supported by voluntary partners, this initiative will reduce corruption risks and create a reliable business environment appealing to global investors. We are convinced that a transparent business climate will encourage economic progress, nurture human capital, and foster sustainable societies 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.”
Synergy 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
By improving their own and their value chains’ capacity to embrace and execute transparent business practices, the ACT Project assists participating companies.
By providing best practices and technical support, the project assists businesses in upgrading their ethical and compliance processes to align with international standards across various domains. Participating companies can enhance their ability to manage fraud and corruption risks and strengthen their compliance structures by aligning their operations with these benchmarks.
About the Partnership for Central America
The Partnership for Central America is an independent, non-governmental organization that partners with multinational companies to generate economic opportunities for underserved communities 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.
