Franchise groups in Puerto Rico, DomRep sign regional growth alliance
The agreement aims to expand investment and strengthen the Caribbean’s franchise sector.
The Puerto Rico Franchise Association (AFPR, in Spanish) and the Dominican Franchise Association (Adofran, in Spanish) have signed a collaboration agreement to promote the franchise sector between both jurisdictions, the organizations announced.
The agreement seeks to support the exchange of knowledge, business practices, and investment opportunities between franchisors and investors in Puerto Rico and the Dominican Republic. It also includes plans for educational programs and joint participation in trade shows and business events.
“This alliance represents a significant milestone for the growth of the franchise model in the Caribbean,” said Ricardo L. Rivera-Badía, president of the AFPR. “By joining forces with Adofran, we can expand the opportunities available to our members and contribute to the region’s economic development.”
Oscar Luis Monzón, president of Adofran, said, “The signing of this agreement is a reflection of our shared vision to boost entrepreneurship, attract investment and position our nations as key hubs for franchise development in Latin America and the Caribbean.”
The agreement includes binational forums, trade missions, and training sessions for franchisors and franchisees. It also seeks to encourage the creation of new franchise operations in the region.
Both associations said the collaboration is intended to promote business development and regional integration through the franchise model.
The agreement was formalized in Santo Domingo, Dominican Republic.
