Alibaba Group Holding Ltd. announced plans to invest $2 billion in Turkey after a meeting with President Recep Tayyip Erdogan.
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 Turkey’s sound economic fundamentals” and has already invested $1.4 billion in the country through Trendyol, Turkey’s biggest e-commerce marketplace.
Evans expressed support for Trendyol’s international expansion plans and underscored that Turkey has the potential to become one of the leading e-export countries, according to the statement. He didn’t provide detailed information about the investment calender, saying the plan is for “the coming period.”
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