Empowering Transparency: Ficohsa and ACT’s Vision for a Corruption-Free Business Environment 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 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 upcoming article, explore details about this innovative initiative and the benefits it brings to investors within 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 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.

Key leaders’ statements supporting the initiative

Brian Nichols on the ACT Initiative

Brian Nichols, serving as the Assistant Secretary of State for Western Hemisphere Affairs, highlighted the importance of the initiative:

«Good governance is at the heart of our engagement with the private sector under the Central America Forward initiative. The ACT program establishes a new benchmark for business ethics, promoting legal integrity and facilitating sustainable economic development. We are honored to partner with PCA and applaud these initiatives.»

Luciana Torchiaro on 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 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 Shows Support

Mario Bustillo, serving as the Vice President of Institutional Relations at Grupo Ficohsa, expressed his support as well:

«This initiative is crucial for Central America, and we are honored to support it. Transparency and ethical behavior foster trust, draw in investments, generate employment, and bolster institutions. For Grupo Ficohsa, integrity and transparency have consistently been paramount. With more companies embracing these ideals, we can significantly advance in combating corruption.»

Synergy with the Central America Forward Initiative

The ACT Project draws inspiration from Vice President Kamala Harris’s Central America Forward (CAF) initiative, unveiled in February 2023. This initiative introduced the Good Governance, Good Jobs Declaration, reinforcing the continued commitment of the U.S. government and PCA to combat corruption and protect labor rights in the region.

The ACT Project expands on efforts by PCA member companies that endorsed the PCA Corporate Pledge on the Rule of Law in June 2023, working towards a shared goal of promoting transparency and accountability across 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. 

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 organization that works alongside multinational corporations to generate economic opportunities for underrepresented 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.