Portugal’s shoe industry plans investments of €160 million in next five years

Portugal’s shoe industry has announced plans to invest nearly €160 million in the next five years in three key areas – “Innovation (€50 million), Globalisation (€70 million) and Qualification (€36 million)”.

Hopes are that the initiative will be supported by EU funding through the Portugal 2020 programme.

The shoe industry also wants to be officially recognised as a “business cluster”.

The announcement came from Manuel Carlos, the head of Portugal’s shoe industry association (APICCAPS), at the Micam Shoe show in Milan, Italy.