1/19/2023

Alibaba Plans to Invest USD 1 Billion in Türkiye

China-based e-commerce giant Alibaba Group plans to build a logistics hub adjacent to Türkiye's Istanbul Airport and a data center in capital Ankara with an investment of more than USD 1 billion.

In an interview with the Sabah daily newspaper, Alibaba Director and President J. Michael Evans stated, "We have a serious investment plan at the Istanbul Airport. From here, we can evaluate e-export plans to Europe, the Middle East, and the Far East. We plan to invest more than USD 1 billion in total."

Evans went on to say that there would be many opportunities in Türkiye in the long run as Alibaba sees the country as a very strong production base.

“There is a great production capacity in Türkiye, making it the most advantageous country in the world in this regard. We will continue to invest in Turkish SMEs," Evans added.

Alibaba has already invested significant amounts in Trendyol, Türkiye's first-ever decacorn, and acquired a 86.5 percent stake. “The reasons why we chose Trendyol were its cutting-edge technology and great potential," Evans said.

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Alibaba; investment; Türkiye