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Alibaba unveils $2bn Turkiye investment in Erdogan meeting

September 18, 2023 at 3:47 pm

Alibaba Group [Olaf Kosinsky/Wikipedia]

Alibaba Group Holding Ltd. announced plans to invest $2 billion in Turkiye after a meeting with President Recep Tayyip Erdogan, Bloomberg reports.

According to the report, the head of the Chinese giant, Michael Evans, made the announcement after the meeting in Istanbul on Friday, according to a statement from its Turkish unit Trendyol.

He indicated that the company has “confidence in Turkiye’s sound economic fundamentals” and has already invested $1.4 billion in the country through Trendyol, Turkiye’s biggest e-commerce marketplace, the report added.

Evans elaborated on the creation of a world-class data centre and a logistics centre in Ankara, as well as a market-leading export operations centre at Istanbul Airport.

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