National footwear support programme approved in Argentina
A bill proposing the creation of a promotion scheme for the footwear industry was approved by the Lower House, with 127 votes in favour, passing on to the Senate
Promoted by Deputy Constanza Alonso, the project aims to “support national industry and job creation” by declaring footwear and its supplier companies as a strategic industry for the country, in order to strengthen import substitution and enhance its export capacity.
“We seek to protect and promote registered and quality industrial employment, generate more jobs, strengthen the productive capital of the industry, encourage technological investment throughout the value chain and generate a sector with real export potential and competitive in the long term”, reads the project.
According to industry data, domestic footwear production fell by 35% between 2015 and 2019, while imports grew by 60%. This led to the closure of more than 500 factories and the loss of thousands of jobs. It is hoped that the adoption of the new law will help to reverse the situation.
The bill has moved to the Senate, where it is expected to be approved quickly and favourably.
Image Credits: Gustavo Sánchez on Unsplash
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