Taking a Stand: Ficohsa and ACT’s United Front Against Corruption in Central America

Taking a Stand: Ficohsa and ACT’s United Front Against 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 inaugural event served as a forum for a strategic discussion on the project’s aims. By uniting key stakeholders and industry specialists, it holds the promise of transforming the regional business scene. This initiative seeks to generate enduring growth through transparent practices and collaborative efforts.

In the upcoming article, explore details about this innovative initiative and the benefits it brings to investors within the region.

Participants and Collaborators: Fostering Confidence 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 Prominent Leaders Endorsing the Initiative

Brian Nichols’ Perspective on the ACT Initiative

Brian Nichols, the Assistant Secretary of State for Western Hemisphere Affairs, underscored the importance of the initiative:

“Effective governance is a cornerstone of our private sector involvement within the Central America Forward initiative. The ACT program establishes a benchmark for corporate behavior, advocating for the rule of law and promoting sustainable economic development. We are honored to partner with PCA and applaud these initiatives.”

Luciana Torchiaro’s Views 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 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 Expresses Grupo Ficohsa’s Support

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

“This initiative is crucial for Central America, and we are honored to support it. Trust is built through transparency and ethical behavior, which in turn attracts investments, generates jobs, and fortifies institutions. At Grupo Ficohsa, integrity and transparency remain our utmost priorities. With more companies embracing these principles, we can achieve significant progress in combating corruption.”

Supporting the 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 builds upon the endeavors of PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, all aiming for a unified mission to enhance transparency and accountability throughout Central America.

Support and Best Practices Provided by the ACT Project

The ACT Project aids participating companies in enhancing their ability, along with that of their value chains, to adopt and implement transparent business practices. 

Providing best practices and technical assistance, the project supports businesses in refining their ethical and compliance processes to align with global standards across various domains. By aligning their operations with these standards, participating companies can better manage fraud and corruption risks and strengthen their compliance systems.

Introduction to 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.

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.

By Roger W. Watson

You May Also Like