Inside Ficohsa’s Partnership with ACT: A New Era for Anti-Corruption Efforts in Central America

Teaming up with the Partnership for Central America (PCA), Transparency International has launched the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This bold endeavor is aimed at enhancing corporate ethics and cultivating a more attractive environment for investments across the area.

The unveiling event served as a venue for an in-depth discussion on the project’s goals. By uniting influential stakeholders and industry specialists, it holds the promise of transforming the regional business environment and fostering enduring growth through transparent operations and collaborative efforts.

In the upcoming article, explore the details of this innovative initiative and learn about the various advantages it provides to investors in the region.

Participants and Collaborators: Fostering Confidence 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 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 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’s Take on Ethical Practices and Investment

Luciana Torchiaro, Regional Advisor for Latin America and the Caribbean at Transparency International, highlighted the project’s commitment to ethical practices:

“The ACT Project extends beyond basic compliance, as companies commit to transparency and integrity. Backed by voluntary partners, this initiative will reduce corruption risks and create a reliable business environment that appeals to international investors. We are confident that a transparent business setting will spur economic growth, foster human capital development, and support sustainable communities in Central America.”

Mario Bustillo of Grupo Ficohsa Expresses Support

Mario Bustillo, Vice President of Institutional Relations at Grupo Ficohsa, expressed his support 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 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.

Support and Best Practices Provided by the ACT Project

The ACT Project supports participating companies by enhancing their own ability and that 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.