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Building Trust in Central America: Ficohsa’s Pledge to the ACT Transparency Initiative

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 launch event served as a venue for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it has the capacity to transform the regional business environment and drive long-term 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.

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.

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 boosting the number of companies willing to voluntarily implement accountability standards and ethical business practices.

Statements from Key Leaders Endorsing 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:

“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 Promoting 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, as companies commit to transparency and integrity. Supported by voluntary partners, this initiative aims to reduce corruption risks and create a reliable business environment that draws global investments. We are confident that a transparent business setting will drive economic growth, enhance human capital development, and foster sustainable communities in Central America.”

Mario Bustillo on Grupo Ficohsa’s Commitment

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.”

Alignment with 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 with the introduction of the Good Governance, Good Jobs Declaration. This declaration underscores the continuous dedication of the U.S. government and PCA to address corruption and protect labor rights within 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 offered by the act project

The ACT Project aids participating businesses in enhancing their ability, as well as 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 an independent, non-governmental organization that partners with multinational companies to generate economic opportunities for underserved communities in El Salvador, Guatemala, and Honduras.

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

By Claude Sophia Merlo Lookman

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