Transparency International, alongside the Partnership for Central America (PCA), has introduced the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This forward-thinking endeavor aims to enhance business ethics and cultivate a better environment for investments across the region.
The inauguration event served as a stage for a strategic discussion regarding the project’s goals. It has the capacity to transform the regional business environment and foster sustainable development via transparent operations and collaborative efforts, uniting key stakeholders and industry specialists.
In the next article, discover what this brand-new initiative is and what kind of benefits it offers to investors in the region.
Engaged stakeholders and collaborators: fostering 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 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 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, the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:
“Good governance is pivotal to our involvement with the private sector as part of the Central America Forward initiative. The ACT program establishes a new benchmark for business practices, promoting the rule of law and encouraging sustainable economic growth. We take pride in partnering with PCA and applaud these efforts.”
Luciana Torchiaro on Fostering 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 of Grupo Ficohsa’s 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 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 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.
Assistance 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.
About the Partnership for Central America
The Partnership for Central America is a non-partisan, non-governmental entity that works alongside multinational companies to generate economic opportunities for marginalized populations in El Salvador, Guatemala, and Honduras.
Serving as a coordinating body for Vice President Harris’s Call to Action, it backs actionable solutions aimed at enhancing economic opportunities, tackling climate, education, and health challenges, and encouraging sustained investments and workforce advancement.
