YASED Held Consultation Meetings with the Ministers of Finance, Economy and Labor & Social Security
YASED (International Investors Association) held a
series of consultation meetings; with the Ministry of Finance on November 16, 2017,
Ministry of Economy on November 21, 2017 and Ministry of Labor and Social
Security on November 30, 2017. During these meetings, key topics on YASED agenda
were discussed with the related Ministers and their high-level ministry
YASED – Ministry of Finance Consultation Meeting
The Minister of Finance, Mr.
Naci Ağbal, attended the consultation meeting organized by YASED in Istanbul on
November 16, 2017. The meeting, closed to the press, was attended by YASED Board of Directors and the chairmen of
YASED Working Groups. With the interactive participation of YASED members, views
were exchanged on priority issues and solution suggestions on the improvement
areas of the current regulation and practices.
Other issues conferred upon
included changes to the tax laws which were part of the omnibus law, including
the increase in the corporate tax rate, the tax audit procedures and requested
modifications in the areas of taxes and incentives.
It is expected that the
Value Added Tax (VAT) reform, planned for completion during January, will
include such changes as: “zero VAT, flat rate, simplification of exemptions, refund
of VAT carried over, etc.”.
YASED – Ministry of Economy Consultation Meeting
Following up on the joint
decision between YASED and the Ministry of Economy, to hold periodic meetings
in an effort to ease the process of conducting business in Turkey as well as
improving the investment environment, YASED and the Minister of Economy, Mr.
Nihat Zeybekci came together on November 21, 2017.
With the interactive
participation of YASED members, suggestions were shared with Mr. Nihat Zeybekci
on the role of Turkey as a Regional Governance and Service Center, the
investment incentive system and suggestions on economic reforms.
During the meeting, the
Minister shared information on current topics as well the economy. It was
emphasized that the creation of 1.1 million jobs per year results in a static
rate of 10% unemployment; that the female labor participation rate has risen
from 22% to 33% over the last 10 years, and that the female labor potential
must be realized.
Mr. Zeybekci pointed out
that efforts are ongoing on the modernization of Customs Union and various
solutions are being discussed to avoid disruption in the trade with the UK
YASED – Ministry of Labor and Social Security Meeting
YASED members came together
with Ms. Jülide Sarıeroğlu, Minister of Labor and Social Security, at a
workshop held in Istanbul on November 30, 2017. During the meeting, labor
market reforms and employment policies were discussed.
The Minister gave a speech on
their current topics and studies. With the interactive participation of YASED
members, this was followed by an exchange of YASED view and solution
suggestions on the improvement areas of the current regulation and practices
along with members’ studies and activities on employment and labor.
Touching upon the policies
regarding the young workforce and female workforce, as part of the Employment
Campaign, Sarıeroğlu mentioned that the goal on female labor rate participation
for 2023 is 41%. It was further expressed that out of the 6 million jobs
created over the last 10 years, 3 million are occupied by females and that the
labor force participation rate in the young population in Turkey has gone up by
5.8 percentage points during the last 10 years, while the same metric, over the
same period, has declined 2.5 points in the “EU 28”. Speaking on the importance
of employment incentives, the Minister indicated that over the 15 years, a
total of 86 billion Turkish Lira was provided as incentives.
Underlining the key role of
occupational training, the Minister mentioned that the Ministry of Labor will
continue to develop qualified labor equipped with the skills demanded by the
contemporary market demands and technology.