Alibaba's new Türkiye investment plan

Trendyol’s controlling partner, Chinese e-commerce giant Alibaba, is planning a new investment of $2 billion in Turkey. Chinese e-commerce giant Alibaba plans to invest $2 billion in Turkey in the coming period. According to a statement from Trendyol, in which Alibaba is a shareholder, Alibaba Group Chairman Michael Evans, who met with President Recep Tayyip Erdoğan in Istanbul on Friday, said that “to date, they have invested $1.4 billion in Turkey through Trendyol” and that “they support Trendyol’s international growth strategy.” Alibaba Group Chairman Michael Evans informed President Erdoğan about the investments they plan to make in Turkey and shared details about new investments such as the data center and logistics center in Ankara and the export operations center they have established at Istanbul Airport. Stating that Turkey has the potential to become the world’s leading e-export country, Evans noted that they have plans to invest $2 billion in the country “in the coming period.” The statement did not provide more detailed information about the investment calendar. Alibaba decided to invest in Trendyol in 2018. According to Trendyol's statement to Bloomberg, the Chinese company's current share is at 76.1 percent.