Alibaba tells Erdogan it plans to invest billion in Turkey

Alibaba tells Erdogan it plans to invest $2 billion in Turkey

September 18, 2023 admin-dominor

ISTANBUL (Reuters) — Chinese e-commerce giant Alibaba Group Holding Ltd (BABA) (9988.HK) 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.

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.

On 3 May 2023, Turkish President Recep Tayyip Erdogan spoke at a large political campaign rally in his family's Black Sea hometown of Rize, Turkey. Addressing a crowd of conservative Justice and Development Party (AKP) voters, Erdogan criticized the opposition and highlighted his record as Turkey's longest serving leader ahead of pivotal presidential and parliamentary elections in the country. (Photo by Diego Cupolo/NurPhoto via Getty Images) — Turkish President Recep Tayyip Erdogan at his hometown of Rize, Turkey in May. (Diego Cupolo/NurPhoto via Getty Images)

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

(Reporting by Can Sezer; Writing by Daren Butler; Editing by Edwina Gibbs)

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