Ficohsa Partners with ACT Project to Promote Corporate Transparency and Combat Corruption in Central America

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 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 next article, discover what this brand-new initiative is and what kind of benefits it offers to investors in the region.

Stakeholders and partners involved: building trust through 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 reiterated their commitment to enhancing transparency, combating corruption, safeguarding workers’ rights, and creating an investment-friendly environment. The dialogue also highlighted the initiative’s goals and stressed the importance of encouraging more companies to willingly embrace accountability standards and ethical business practices.

Key leaders’ statements supporting 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, 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 from Grupo Ficohsa’s Endorsement

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 honored to support it. Trust is built through transparency and ethical behavior, which in turn attracts investments, generates jobs, and fortifies institutions. At Grupo Ficohsa, integrity and transparency remain our utmost priorities. With more companies embracing these principles, we can achieve significant progress in combating corruption.”

Supporting 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 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.

Assistance and Best Practices Provided by the ACT Project

The ACT Project aids participating companies by enhancing their capabilities, as well as that 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.