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Chinese business magnates flock to Turkey

August 17, 2018 at 7:00 pm

Jack Ma, billionaire and chairman of Alibaba Group Holding Ltd., headed a group of 59 billionaires seeking partnerships and investment opportunities in Turkey

In a new measure aimed at supporting the Turkish economy and bolstering trade relations between Turkey and China, the richest fifty-nine Chinese businessmen, headed by billionaire Jack Ma have steered toward Turkey in order to set up partnerships and search for new investment opportunities.

The Turkish media reported that the Chinese group includes businessmen the individual wealth of each of them happens to be within the range of 15 to 30 billion dollars. The men intend to meet with senior officials and prominent businessmen in Turkey to discuss opportunities for establishing joint projects in the private and public sectors.

Earlier, the Turkish Minister of Energy and Natural Resources Fateh Dunmaz said that Turkey intends in the coming months to start the project of building the third nuclear power station in cooperation with China.

Around forty Turkish companies are also preparing to participate in China’s international imports fair, which will be held in the Chinese city of Shanghai from 5 to 10 November 2018 and is expected to attract around 150,000 buyers from more than 100 countries.

On another front, the Emir of Qatar Sheikh Tamim bin Hamad Al Thani announced last Wednesday that his country would provide a package of economic projects, investments and deposits worth around 15 billion dollars in support of the Turkish economy. The announcement was made during the meeting the Emir held with Turkish President Recep Tayyib Erdogan at the Presidential Complex in the Turkish capital, Ankara.