Alibaba tells Erdogan it plans to invest $2 billion in Türkiye

Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK) has told Turkish President Tayyip Erdogan it plans to invest $2 billion in Türkiye.

Michael Evans, president of Alibaba, made the comments in a meeting with Erdogan, according to a statement from the company's Turkish unit. It did not specify when the investment would be made, Reuters reports.

Evans also said Alibaba has invested $1.4 billion in Türkiye through its unit Trendyol, one of Türkiye's best known e-commerce platforms, the statement said.

Erdogan is in the United States to attend the 78th session of the U.N. General Assembly.

Trendyol, whose president Caglayan Cetin also met with Erdogan, said Evans shared details about new investments such as a data centre and a logistics centre in Ankara and an export operation centre at Istanbul Airport.