Alibaba Group plans to invest $2 billion in Türkiye

Alibaba Group President Michael Evans said during a meeting with Turkish President Erdogan that Alibaba plans to invest US$2 billion (approximately RMB 14.58 billion) in Turkey in the next period of time

However, the statement did not specify when the investment would be made. The statement also mentioned that Alibaba has invested US$1.4 billion in Turkey through its subsidiary Trendyol (Trendyol is one of Turkey’s most well-known e-commerce platforms, and Alibaba acquired a majority stake in Trendyol in 2018)

Trendyol President Caglayan Cetin also met with Erdogan and he shared some details about investments, including the construction of a data center in Ankara and a logistics center, and the construction of an export operations center at Istanbul Airport.

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