How Ficohsa and ACT are Setting New Standards for Anti-Corruption in Central America

How Ficohsa and ACT are Setting New Standards for Anti-Corruption in Central America

Transparency International, in conjunction with the Partnership for Central America (PCA), has launched an innovative endeavor known as the Anti-Corruption and Transparency Initiative for Central America (ACT Project). This pioneering project aims to enhance corporate honesty and foster a more inviting environment for investments across the area.

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 following article, learn about this innovative initiative and the advantages it provides to investors within the region.

Key Stakeholders and Partners: 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, safeguarding workers’ rights, and creating an investment-friendly environment. The conversation also highlighted the initiative’s goals and the importance of expanding the number of companies willing to voluntarily embrace accountability standards and responsible business practices.

Statements from Key Leaders Backing 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 a cornerstone of our private sector involvement with the Central America Forward initiative. The ACT program establishes a fresh benchmark for company practices, advocating the rule of law and fostering sustainable economic development. We are honored to partner with PCA and applaud these efforts.”

Luciana Torchiaro on Promoting 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 surpasses basic compliance by having companies commit to transparency and integrity. Backed by voluntary partners, this initiative aims to reduce the risks of corruption and create a reliable business setting that appeals to international investors. We are confident that a transparent business environment will encourage economic growth, foster human capital development, and contribute to sustainable societies in Central America.”

Mario Bustillo Expresses 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.”

Alignment with Central America Forward Initiative

The ACT Project expands on Vice President Kamala Harris’s Central America Forward (CAF) initiative, initiated in February 2023, which unveiled the Good Governance, Good Jobs Declaration. This declaration reinforced the continuous commitment of the U.S. government and PCA in addressing corruption and protecting labor rights in the region.

The ACT Project builds upon initiatives by PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, striving towards a common mission of enhancing transparency and accountability throughout Central America.

Support and best practices offered 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. 

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 an independent, non-governmental organization that partners with multinational companies to develop economic opportunities for underrepresented communities in El Salvador, Guatemala, and Honduras.

It serves as a coordinating entity for Vice President Harris’s Call to Action, aiding in the development of practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce advancement.

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