- Alibaba plans to invest more than $1 billion in Türkiye, including a data center located in the capital Ankara.
- Alibaba’s President also stated that the company will support Trendyol if they decide to go public.
- Alibaba also plans to invest in the country to use the Istanbul Airport as a logistic hub due to its strategic location.
Various online news sources claimed that Alibaba President Michael Evans said that Alibaba is planning on investing more than $1 billion in Türkiye. During a visit to Turkuvaz Media Group in Istanbul, Evans said that there are always volatilities in economies, and there are opportunities when one considers the long term.
Evans also said that with its production power, Türkiye is the most advantageous country in the world in this sense. According to Evans, Alibaba will also invest in small and medium-sized enterprises and tradesmen in the country. Alibaba also plans to carry the country’s production power and export potential to Europe and the Middle East.
Evans also shared its thoughts about Trendyol, one of the biggest e-commerce platforms in Türkiye, which is backed by Alibaba. Alibaba may also have stock market plans in Türkiye with Trendyol. According to Evans, there are both advantages and disadvantages but it is advantageous to be a public company. However, Trendyol management should decide this. If the company decides to go public, Alibaba will support them as Trendyol grows.