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 inaugural event served as a forum for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it holds the promise of transforming the regional business scene. This initiative seeks to generate enduring growth through transparent practices and collaborative efforts.
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 gathered partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional branches, including Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The conversation highlighted the essential role of the ACT Project in maintaining the rule of law and fostering transparent business practices.
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’ Perspective on the ACT Initiative
Brian Nichols, the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:
“Good governance is at the heart of our engagement with the private sector under the Central America Forward initiative. The ACT program establishes a new benchmark for business ethics, promoting legal integrity and facilitating sustainable economic development. We are honored to partner with PCA and applaud these initiatives.”
Luciana Torchiaro on Fostering 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 of Grupo Ficohsa’s Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:
“This initiative is vital for Central America, and we are proud to support it. Transparency and ethical behavior foster trust, draw investments, generate employment, and bolster institutions. At Grupo Ficohsa, integrity and transparency have consistently been top priorities. With more companies embracing these values, we can achieve significant strides in combating corruption.”
Alignment with Central America Forward Initiative
The ACT Project draws inspiration from Vice President Kamala Harris’s Central America Forward (CAF) initiative, unveiled in February 2023. This initiative introduced the Good Governance, Good Jobs Declaration, reinforcing the continued commitment of the U.S. government and PCA to combat corruption and protect labor rights in the region.
The ACT Project builds upon the efforts of PCA member companies that, in June 2023, committed to the PCA Corporate Pledge on the Rule of Law. This initiative aims to collectively advance transparency and accountability throughout Central America.
Support and Best Practices Provided by the ACT Project
The ACT Project supports participating companies by enhancing their own ability and that of their value chains to adopt and implement transparent business practices.
Providing best practices and technical assistance, the project supports businesses in refining their ethical and compliance processes to align with global standards across various domains. By aligning their operations with these standards, participating companies can better manage fraud and corruption risks and strengthen their compliance systems.
Introduction to 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.
It acts as a coordinating body for Vice President Harris’s Call to Action and supports practical solutions for advancing economic opportunity, addressing climate, education, and health challenges, and promoting long-term investments and workforce development.
