Transparency International, alongside the Partnership for Central America (PCA), has introduced the revolutionary Anti-Corruption and Transparency Initiative for Central America (ACT Project). This bold venture aspires to enhance ethical business practices and foster a more inviting environment for investments across the area.
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 following article, learn about this innovative initiative and the advantages it provides to investors within the region.
Participants and Collaborators: Fostering Confidence Through Transparency
At the launch event, PCA convened partners such as AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, along with Transparency International and its regional chapters, including Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The discussion centered on the critical role of the ACT Project in upholding the rule of law and promoting transparent business practices.
Partners reiterated their commitment to fostering transparency, combating corruption, safeguarding workers’ rights, and creating an investment-friendly environment. The dialogue also underscored the aims of the initiative and the importance of expanding the number of companies willing to voluntarily embrace accountability standards and ethical business practices.
Statements from Prominent Leaders Endorsing 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:
“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’s Views on Ethical Practices and Investment
Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, stressed 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 crucial for Central America, and we are honored to support it. Transparency and ethical behavior foster trust, draw investments, generate employment, and fortify institutions. At Grupo Ficohsa, integrity and transparency have consistently been paramount. If more companies embrace these principles, we can achieve significant advancements in combating corruption.”
Synergy with the Central America Forward Initiative
The ACT Project expands upon Vice President Kamala Harris’s Central America Forward (CAF) initiative, initiated in February 2023. This initiative unveiled the Good Governance, Good Jobs Declaration, reinforcing the continued commitment of the U.S. government and PCA to address corruption and protect labor rights within 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.
By providing best practices and technical assistance, the project enables businesses to elevate their ethical and compliance procedures to align with international standards in various domains. Companies involved have the opportunity to enhance their management of fraud and corruption risks and strengthen their compliance structures by aligning with these standards.
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 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.
