Alibaba Group Holding, the Chinese ecommerce company has informed Turkish President Tayyip Erdogan of its intentions to invest USD 2 billion in Turkey.
This announcement was made during a meeting between Erdogan and Michael Evans, President of Alibaba, according to the company’s Turkey Unit’s statement, however, the statement did not specify a timeline for the planned investment.
Additionally, Evans disclosed that Alibaba has already invested USD 1.4 billion in Turkey through its subsidiary, Trendyol, which is among Turkey’s most well-known ecommerce platforms.
Erdogan’s visit to the United States for the 78th session of the U.N. General Assembly provided the backdrop for this significant investment announcement.
