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 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
During the launch event, PCA gathered partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, in collaboration with Transparency International and its regional divisions, such as Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The conversation highlighted the essential part the ACT Project plays in supporting the rule of law and encouraging transparent business methods.
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 Key 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:
“The core of our private sector engagement within the Central America Forward initiative is rooted in good governance. The ACT program establishes a benchmark for corporate behavior, advocating for the rule of law and fostering sustainable economic advancement. 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 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 vital for Central America, and we are honored to support it. Transparency and ethical behavior establish trust, draw investments, generate employment, and bolster institutions. At Grupo Ficohsa, we have always prioritized integrity and transparency. With more companies embracing these principles, we can make 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, which introduced the Good Governance, Good Jobs Declaration. This declaration reiterated the continuous commitment of the U.S. government and PCA to address corruption and protect labor rights in the region.
The ACT Project builds upon the initiatives of PCA member companies that backed the PCA Corporate Pledge on the Rule of Law in June 2023, collaboratively aiming to advance transparency and accountability throughout Central America.
Support 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.
Through offering best practices and technical support, the project aids businesses in refining their ethical and compliance procedures to align with international standards across various domains. Companies involved can enhance their fraud and corruption risk management 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 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.