Alibaba Group tells Erdogan it plans to invest $2B in Turkey | Inquirer Business

Alibaba Group tells Erdogan it plans to invest $2B in Turkey

/ 04:02 PM September 18, 2023
Shopping trolley in front of Alibaba logo

Shopping trolley is seen in front of Alibaba logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File photo

ISTANBUL  -Chinese e-commerce giant Alibaba Group Holding Ltd has told Turkish President Tayyip Erdogan it plans to invest $2 billion in Turkey.

Michael Evans, president of Alibaba, made the comments in a meeting with Erdogan, according to a statement from the company’s Turkish unit. It did not specify when the investment would be made.

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Evans also said Alibaba has invested $1.4 billion in Turkey through its unit Trendyol, one of Turkey’s best known e-commerce platforms, the statement said.

Erdogan is in the United States to attend the 78th session of the U.N. General Assembly.

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Trendyol, whose president Caglayan Cetin also met with Erdogan, said Evans shared details about new investments such as a data center and a logistics center in Ankara and an export operation center at Istanbul Airport.

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TAGS: Alibaba, data center, Investment, logistics, Turkey
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