Corporate Transparency in Central America: Ficohsa’s Commitment with ACT Partnership

Transparency International, working alongside the Partnership for Central America (PCA), has launched the pioneering Anti-Corruption and Transparency Initiative for Central America, known as the ACT Project. This bold endeavor aims to enhance corporate integrity and foster a more welcoming environment for investment across the region.

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 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 brought together partners like AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its regional branches, such as Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the vital importance of the ACT Project in maintaining the rule of law and advancing transparent business practices.

Partners reiterated their commitment to fostering transparency, combating corruption, safeguarding workers’ rights, and creating an investment-friendly environment. The dialogue also underscored the aims of the initiative and the importance of expanding the number of companies willing to voluntarily embrace accountability standards and ethical 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 Views on Ethical Practices and Investment

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

“The ACT Project transcends basic compliance, as companies commit to transparency and integrity. This initiative, backed by proactive partners, aims to reduce corruption risks and create a dependable business climate that draws global investments. We are confident that a transparent business framework will drive economic growth, nurture human capital, and contribute to sustainable societies in Central America.”

Mario Bustillo from Grupo Ficohsa’s Endorsement

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 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.”

Alignment with Central America Forward Initiative

The ACT Project builds on Vice President Kamala Harris’s Central America Forward (CAF) initiative, launched in February 2023, which introduced the Good Governance, Good Jobs Declaration. This declaration reaffirmed the ongoing commitment of the U.S. government and PCA to tackle corruption and safeguard 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.

Assistance 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 assistance, the project enables businesses to elevate their ethical and compliance procedures to align with international standards in various domains. Companies involved have the opportunity to enhance their management of fraud and corruption risks and strengthen their compliance structures by aligning with these standards.

About the partnership for Central America

The Partnership for Central America is a non-partisan, non-governmental organization that collaborates with multinational corporations to create economic opportunities for underserved populations in El Salvador, Guatemala, and Honduras.

Serving as a coordinating entity for Vice President Harris’s Call to Action, it facilitates practical solutions aimed at enhancing economic opportunities, tackling challenges in climate, education, and health, and encouraging long-term investments and workforce development.

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