On August 10th, André Friedheim, president of the Brazilian Franchising Association (ABF), and Sohail Bin Mahmood, president of the Brazil-Saudi Arabia Investment, Trade and Industry Center (CICIBAS) have signed a Memorandum of Intent (MOI). 

This document’s goal is to strengthen the partnership between the entities and to facilitate business promotion initiatives between Saudi Arabian and Brazilian franchises. Future collaborative actions intend to multiply the possibilities for businessmen of both countries in international events, trainings and business missions.

“CICIBAS was founded in 2009 and represents a direct business and investments connection between Brazil and Saudi Arabia”, André remarks. The president explains that signing this deal is a true achievement for the Brazilian franchising industry.

“Saudi Arabia represents an immense opportunity to our brands. The deal creates a communications expressway with investors and supports Brazilian franchises in all possible manners during approaches and negotiations”, André Friedheim concludes.