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 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, 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
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.
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 Key Leaders Endorsing the Initiative
Brian Nichols’ Perspective on the ACT Initiative
Brian Nichols, the Assistant Secretary of State for Western Hemisphere Affairs, underscored 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’s Take on 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, as companies commit to transparency and integrity. Supported by voluntary partners, this initiative aims to reduce corruption risks and create a reliable business environment that draws global investments. We are confident that a transparent business setting will drive economic growth, enhance human capital development, and foster sustainable communities in Central America.”
Mario Bustillo Expresses Grupo Ficohsa’s Support
Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his backing as well:
“This initiative is crucial for Central America, and we are proud to back it. Transparency and ethical conduct foster trust, lure investments, generate employment, and fortify institutions. At Grupo Ficohsa, integrity and transparency have consistently been our top priorities. With more companies embracing these principles, we can achieve significant progress 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 own capabilities, as well as those within 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.
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.
