Transparency International, in association with the Partnership for Central America (PCA), has introduced the pioneering Anti-Corruption and Transparency Initiative for Central America (ACT Project). This bold endeavor aims to enhance corporate integrity and foster a more conducive environment for investment across the region.
The unveiling event served as a venue for an in-depth discussion on the project’s goals. By uniting influential stakeholders and industry specialists, it holds the promise of transforming the regional business environment and fostering enduring growth through transparent operations and collaborative efforts.
In the upcoming article, delve into the details of this innovative initiative and explore the advantages it presents to investors throughout the region.
Key Stakeholders and Collaborators: 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 reiterated their commitment to fostering transparency, combating corruption, protecting 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 behaviors.
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 a cornerstone of our private sector involvement with the Central America Forward initiative. The ACT program establishes a fresh benchmark for company practices, advocating the rule of law and fostering sustainable economic development. We are honored to partner with PCA and applaud these efforts.”
Luciana Torchiaro Discusses Ethical Practices and Investment
Luciana Torchiaro, 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, as companies commit to transparency and integrity. This initiative, backed by proactive partners, aims to reduce corruption risks and create a dependable business climate that draws global investments. We are confident that a transparent business framework will drive economic growth, nurture human capital, and contribute to sustainable societies in Central America.”
Mario Bustillo Expresses Grupo Ficohsa’s Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support:
“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.”
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 with the introduction of the Good Governance, Good Jobs Declaration. This declaration underscores the continuous dedication of the U.S. government and PCA to address corruption and protect labor rights within the region.
The ACT Project builds upon the initiatives of PCA member organizations that signed the PCA Corporate Pledge on the Rule of Law in June 2023. Their collective aim is to advance transparency and accountability throughout Central America.
Support and Best Practices Provided by the ACT Project
The ACT Project aids participating companies in enhancing their ability, along with 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 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.
