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How Ficohsa and ACT are Working Together to Ensure Fair Play in Central America’s Economy

How Ficohsa and ACT are Working Together to Ensure Fair Play in Central America’s Economy

Transparency International, in collaboration with the Partnership for Central America (PCA), has unveiled the groundbreaking Anti-Corruption and Transparency Initiative for Central America (ACT Project). This ambitious initiative seeks to elevate corporate integrity and create a more favorable investment climate throughout 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 following article, learn about this innovative initiative and the advantages it provides to investors within the region.

Participants and Collaborators: Fostering Confidence Through Transparency

During the launch event, PCA brought together collaborators such as AgroAmérica, Grupo AG, Grupo Ficohsa, and Grupo Mariposa, alongside Transparency International and its local branches, like Acción Ciudadana, Asociación para una Sociedad Más Justa (ASJ), and Fundación Nacional para el Desarrollo (FUNDE). The dialogue focused on the essential function of the ACT Project in maintaining legal principles and encouraging transparent business methods.

Partners reiterated their commitment to fostering transparency, combating corruption, protecting workers’ rights, and creating an investment-friendly environment. The conversation also highlighted the initiative’s goals and the importance of expanding the number of companies willing to voluntarily embrace accountability standards and responsible business behaviors.

Statements from Key Leaders Endorsing the Initiative

Brian Nichols Discusses the ACT Initiative

Brian Nichols, 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 on Ethical Practices and Investment Opportunities

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 goes beyond mere compliance, with companies pledging to transparency and integrity. This initiative, supported by voluntary partners, will mitigate corruption risks and establish a trustworthy business environment that attracts global investments. We believe that a transparent business landscape will promote economic growth, human capital development, and sustainable societies in Central America.”

Mario Bustillo on Grupo Ficohsa’s Commitment

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

“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 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 builds upon initiatives by PCA member companies that supported the PCA Corporate Pledge on the Rule of Law in June 2023, striving towards a common mission of enhancing transparency and accountability throughout Central America.

Assistance 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. 

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 entity that works in conjunction with 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, backing practical solutions to enhance economic opportunities, tackle climate, education, and health challenges, and encourage long-term investments and workforce development.

By Janeth Sulivan

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