Finance China’s Alibaba plans $2bn investment in Turkey By Pramod Kumar September 19, 2023 Reuters/Thomas Peter Alibaba's investment in Turkey will involve data and logistics centres in Ankara and an export centre at Istanbul Airport China’s e-commerce major Alibaba Group is planning to invest around $2 billion in Turkey, according to a local media report. The plan was shared by Alibaba president Michael Evans during a meeting with President Recep Tayyip Erdoğan, Daily Sabah newspaper reported, citing a statement from the company’s Turkish unit. DHL buys Turkish firm to tap into e-commerce sector China’s Alibaba to open ‘free’ AI model GCC retail industry concern as shoppers move online No timeframe was given but the company said the plan is for “the coming period”. Alibaba holds a 76 percent stake in the Turkish e-commerce platform Trendyol. Evans shared details about new investments, such as data and logistics centres in Ankara and an export operation centre at Istanbul Airport. Erdoğan, who is attending the 78th session of the UN General Assembly in the US, has invited Tesla CEO Elon Musk to build a factory in Turkey, Anadolu Agency posted on social media platform X.
