site.btaAssociation for Modern Trade: Investments in Digitalization, New Skills and Waste Management Will Cost Businesses BGN 1.7 Billion

In the next few years, the members of the Association for Modern Trade will invest an additional BGN 1.7 billion in their sites in Bulgaria, Nikolay Valkanov, Executive Director of the organization, said on Tuesday in Burgas. 

According to him, these funds will be distributed in three main areas, digitization of processes in enterprises, waste management and new skills development for employees. "An important issue for business at the moment is the adoption of the single European currency by Bulgaria", he added. Every single company that operates in Bulgaria will certainly allocate resources to optimize its processes, he said. "Unfortunately, we are currently observing political instability. Even if we meet the inflation criterion, which is mandatory, things will be very difficult. Bulgaria's draft law on the introduction of the euro must be adopted immediately, because without it, businesses cannot complete the adaptation of the processes we mentioned", added Valkanov.

The Association, which unites leading retailers in Bulgaria, again expressed concern regarding the proposal for a fixed trade markup of 15% for bread, which will come into effect on July 1. Valkanov said that talks were held with representatives of the Ministry of Economy and the Ministry of Finance, and that the Association expects the texts to be re-voted and cancelled. "I am not an optimist, but I believe that this should happen. It remains to be seen what the effects of this markup will be after July 1. There are many hypotheses and the bread market is highly segmented. Over two-thirds of sales occur in small and specialized stores. The share of sales in large stores is small," Valkanov pointed out.