site.btaDeputy PM Gabriel: Gender Pay Gap Has No Place in Democratic Society

"Women's contribution and leadership must be prioritized so as to create an innovative ecosystem supporting creativity, innovation and entrepreneurship," outgoing Deputy Prime Minister and Foreign Minister Mariya Gabriel said, addressing an EmpowerHer 2024: Elevate to Excellence Conference here on Friday.

The event was organized by the American Chamber of Commerce in Bulgaria (AmCham) to celebrate the women who empower, unite, and elevate our knowledge, skills, and view of the world, and show us how the entrepreneurial spirit does wonders, combined with inspiration, aspiration, and feminine power.

The EmpowerHer initiative was launched in 2022 by the American Chambers of Commerce in Europe, the American Chamber of Commerce to the European Union and the U.S. Department of Commerce. Its main goal is to increase women's economic empowerment in the workplace and female entrepreneurship.

"I believe that the disparity between men and women in pay for work of equal value has no place in democratic society. Hence the empowerment of women is an imperative for all of us who struggle for a better, fairer and inclusive society, but we also struggle for increased productivity and economic growth," Gabriel said.

She cited data according to which just 8% of the 500 companies rated by Standard&Poors have a female CEO, but they have had a higher rate of return than 92% of the male-run companies over the last ten years.

The Deputy PM noted the importance of having more awareness campaigns and of making public the achievements of innovative women. She added that this is one of the challenges facing her, and she will be tackling it.

She also highlighted the significance of establishing a link between education and entrepreneurship, strategic investments and access to capital. Gabriel argued for the need of more training courses and programmes to develop women's entrepreneurship and skills.

Opening the conference, AmCham Bulgaria CEO Ivan Mihaylov said that the Chamber is devoted to promoting equality, inclusion and non-discrimination in all aspects of business and society.

At the conference, the panelists in a discussion on "EmpowerBank - Lead and Inspire" included Boyka Docheva, HR Director, IBM Bulgaria, Mylena Kostova-Organdzhieva, Managing Director, MSD Bulgaria, North Macedonia, Kosovo & Albania, Darina Stoyanova, CEO of Prestige-96 AD, Plamena Cherneva,
Board Member EFF and Founder of Nordic Women in Tech.

TV anchor Poli Zlatareva moderated a Fireside Chat: Women Beyond Success involving Innovation and Growth Minister Milena Stoycheva and UniCredit Bulbank Bulgaria Executive Director and Management Board Chair Tzvetanka Mintcheva.

Anne-Charlotte Joubert, Project Coordinator, European Female Founders, France. Monika Stanisheva, Chair of the Board, Dir.bg, Bulgaria, Salome Le Goff, Responsible of Programs, Willa, France, and Maria Oliveira, Executive Business Director, UPTEC, Program Director, Executive Master in Business Innovation of Porto Business School, Portugal, were invited to take part in the other panel discussion at the forum, "INVEST’HER: Transforming Investment for Women in Entrepreneurship".