Alibaba Group Holding Ltd (9988. H.K.) told Turkish President Tayyip Erdogan it will spend $2 billion in Turkey.
Alibaba’s Turkish unit said President Michael Evans made the statements in a meeting with Erdogan. It did not state the investment date.
According to Evans, Alibaba has invested $1.4 billion in Turkey through Trendyol, a popular e-commerce site.
Erdogan is attending the 78th U.N. General Assembly in the U.S.
Trendyol president Caglayan Cetin met with Erdogan and said Evans discussed additional projects such as a data center, logistics center, and export operation center at Istanbul Airport.
Alibaba’s $2 billion investment in Turkey is a strategic move to capitalize on its digital economy and e-commerce potential.
The investment should cover e-commerce, cloud computing, logistics, and digital infrastructure.
Alibaba’s large investment will boost Turkey’s economy in the short and long run. Turkey may become a regional IT hotspot as technology advances.
Alibaba can help Turkish companies trade globally. The Group’s $2 billion investment in Turkey is a milestone for the company and nation. Alibaba’s awareness of Turkey’s digital economy potential and commitment to expansion are evident. Turkey’s economy will evolve as the investment unfolds and diverse industries benefit from this large financial input, supporting innovation, job creation, and technical progress. This investment ushers in Turkey’s digital future, with Alibaba Group leading.