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 event marked the debut of a strategic discussion focused on the project’s aim, presenting an opportunity to potentially transform the business environment in the region. By gathering key stakeholders and industry authorities, the initiative strives to drive sustainable development through transparent methodologies and unified 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: Fostering Trust via Transparency
During the launch event, PCA brought together partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional branches, such as Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the vital importance of the ACT Project in maintaining the rule of law and advancing transparent business practices.
The partners reiterated their commitment to fostering transparency, combating corruption, protecting workers’ rights, and creating an environment favorable for investment. The conversation also highlighted the initiative’s goals and stressed the importance of encouraging more companies to voluntarily embrace standards of accountability and responsible business practices.
Statements from Prominent Leaders Endorsing the Initiative
Brian Nichols Discusses the ACT Initiative
Brian Nichols, 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, emphasized the project’s dedication to ethical practices:
“The ACT Project goes beyond mere compliance, with companies pledging to transparency and integrity. This initiative, supported by voluntary partners, will mitigate corruption risks and establish a trustworthy business environment that attracts global investments. We believe that a transparent business landscape will promote economic growth, human capital development, and sustainable societies in Central America.”
Mario Bustillo Expresses Grupo Ficohsa’s Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, also voiced his support:
“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.”
Integration with the Central America Forward Initiative
The ACT Project expands upon Vice President Kamala Harris’s Central America Forward (CAF) initiative, introduced in February 2023, which unveiled the Good Governance, Good Jobs Declaration. This declaration reaffirmed 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 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 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.
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 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 entity for Vice President Harris’s Call to Action, it facilitates practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce development.
