在迪拜投资人的视野里，中国企业正在呈现出新的面貌。
电商、支付和即时配送，曾是他们观察中国科技公司最直观的窗口。如今，话题开始向更深处延伸：机器人能否进入产业现场，人工智能能否提高企业生产效率，中国制造积累的技术与经验，能否帮助当地重组供应链。
Wamda集团执行董事长法迪·甘杜尔（Fadi Ghandour）在与出海参考的交流中谈到，他观察到的一项重要变化，是当地创投生态正从以消费互联网为主，逐步向硬科技和人工智能拓展。Global Ventures创始人兼管理合伙人Noor Sweid也表示，正在关注供应链、实体人工智能、制造业和材料科学，以及这些技术如何解决企业的实际问题。
迪拜资本正在寻找以AI产业为主的全新投资方向。
MAGNiTT数据显示，企业层面，2026年上半年，阿联酋初创企业获得融资8.95亿美元，同比增长53%，占中东和北非地区融资额的66%；投资层面，Wamda投资数据显示，本土投资规模单笔投资从10万美元到5000万美元不等。平均每年行业整体的投资规模大约25-30亿美元，并且还在持续增长。
中国科技企业面对的不是一张等待领取的支票，而是一套正在变化的投资判断：当地需要什么，中国企业能提供什么，以及这种供需关系能否长成一门持续赚钱的生意。
01从争夺消费者，到寻找产业里的AI
在甘杜尔的叙述中，物流、即时配送、电商和支付，是一批中国科技企业进入当地市场的重要切口。美团旗下的Keeta，是他反复提及的例子。
这些业务让当地市场直接看到了中国企业的组织效率：如何连接商家与消费者，如何调度配送网络，如何在竞争中快速调整产品。现在，投资人希望把这种能力带进更多行业。
“相比消费级AI，我们的重心更多放在产业AI方向，投资重点偏向企业服务和工业场景。”Noor Sweid在日前举办的迪拜商业论坛的交流中表示。Noor Sweid是总部位于阿联酋的国际风险投资机构Global Ventures的创始人兼管理合伙人。
该机构重点投资以技术创新解决实际市场需求的成长型企业，覆盖金融科技、医疗科技、教育科技、农业科技及企业级SaaS等领域，并帮助被投企业向中东、非洲及其他国际市场拓展。
Noor Sweid并没有把AI单独理解为一个热门赛道。她认为，供应链的变化，才是其判断技术机会的重要起点。按照她的介绍，Global Ventures早在2023年就围绕供应链重构开展研究和投资，关注范围延伸至实体人工智能、制造业及材料科学。在她看来，中国在这些领域的技术进展值得持续跟踪。
2026年2月，工业科技企业Immensa宣布获得Global Ventures、迪拜未来区基金及现有投资者的新一轮资金支持。
这足以说明迪拜投资机构已经不再只看中企业某些技术领先，同样看重技术能否与制造、供应和交付能力结合，最终进入生产流程。相比一个宽泛的“AI赋能”故事，减少多少停机时间、降低多少库存负担，更接近商业决策系统。
作为需求端，迪拜经济和旅游部旗下迪拜经济发展公司首席执行官哈迪·巴德里在与出海参考交流中表示，阿联酋航空、迪拜环球港务集团等本土大型企业，愿意与科技和人工智能企业合作，提高生产效率。他尤其看重中国在人工智能落地应用方面积累的经验。
与消费互联网不同，消费业务可以通过用户增长展示吸引力，但AI技术要经过测试、采购、交付与维护等环节。投资维度从一个可以迅速扩张的平台，进一步延伸为能够在复杂业务中兑现效果的落地产品。
对中国企业而言，真正的机会与难度都在这里：已经在国内验证过的技术和产品应该如何进入和改进迪拜的企业体系和流程。
02国内排名，不能替代海外市场的验证
对于什么样的中国企业更容易获得投资，甘杜尔在交流中纠正了两个判断。
一是当地只欢迎重资产、实体经营，不看软件企业；二是投资人只选择中国各个赛道排名前三的公司。
他的回答是，当地存在大量软件领域的投资机会，行业排名也不是必要条件。“作为投资人，我并不在意你是不是行业前三。核心是你的产品能真正适配目标市场。”
这句话划出了一条重要边界：中国市场的成绩可以帮助企业获得注意，却不能替代海外市场的验证。
在甘杜尔看来，创业者需要理解技术，有推动产品扩张的意愿，并且能够针对新市场的具体情况作出调整。所谓适配，不只是更换语言或增加一个海外销售渠道，而是产品进入当地后，是否仍然对应真实需求。
Noor Sweid的观点与此类似。她认为，无论面向消费者还是企业客户，中国公司都擅长快速迭代，能够迅速推出新版本、探索新模式。但这种能力的价值，取决于企业愿不愿意根据海外客户的反馈重新调整。复制得快与适应得快，是两回事。她直言，海外企业最常见的错误，就是假定新市场与本国市场相同，把原有模式直接搬过来。
除了产品，投资人还在考察企业准备从哪里开启下一轮增长。
Global Ventures的投资逻辑是寻找立足本地区、面向全球扩张的企业，也寻找进入本地区开拓新市场的海外公司。Noor Sweid强调，相比企业最初诞生在哪里，她更关心企业从哪里继续做大。原因很实际：投资完成后，她希望参与企业发展、帮助创始人拓展业务，地理上的接近有助于开展这些工作。
在这一逻辑下，迪拜不只是融资地点。企业是否在当地配置了能够理解客户、推进业务的人，投资人与经营团队能否持续协作，比一个注册地址更有意义。
与此同时，中国企业熟悉的投资人，也可能成为海外融资的一部分。
甘杜尔举了机器人企业的例子：中国机器人公司数量众多，投资机构不可能熟悉每一家，因此希望与已经投资这些公司的中国机构交流。中国投资人更了解企业的技术背景、竞争位置及原有市场，可以帮助当地投资人形成判断。
投资热情最终仍须回到收益。Noor Sweid在谈及投资组合时表示，他们会围绕单笔投资如何实现十倍回报来思考，而不是一味押注极少数百倍项目。
产业合作和全球扩张最终要接受商业结果的检验。对于中国科技企业来说，真正有说服力的融资故事，来自于国内积累与海外增长之间的清晰路径：换一个市场，企业优势能留下多少，又需要补上什么。
03找不找本地伙伴，取决于缺少什么能力
获得投资与做好当地生意，并不是同一件事。即使不需要融资，中国企业也必须回答：哪些工作自己做，哪些能力借助本地合作方获得。
甘杜尔用比亚迪和Keeta说明了两种不同路径。
比亚迪选择与本地经销商合作。2023年，比亚迪宣布与总部位于迪拜的Al-Futtaim集团建立合作关系，进入阿联酋市场。合作方既有汽车业务经验，也拥有客户服务网络，并布局电动车售后体系。
在甘杜尔看来，这种选择的价值，是复用当地已经形成的销售和服务能力。中国企业提供产品与技术，本地伙伴把产品接入消费者熟悉的购买、维修和使用体系。
Keeta则被甘杜尔作为更偏向自主搭建业务的例子。他认为，美团积累的资金与运营能力，使它有条件选择不同的进入方式。
这并不意味着自主经营可以脱离本地关系。按照甘杜尔的讲述，美团方面同样会向当地人士了解监管和市场情况。他对中国企业的建议是，先找到熟悉当地的人交流，这种交流不必以获得投资为前提。
两种路径的区别，不在于谁更重视本土化，而在于企业缺少的能力不同。前者需要识别合作伙伴的实际资源，后者则必须估算独立建设所需的时间、人员与试错成本。
Noor Sweid提出的另一层区分，则更靠前：企业来到迪拜，究竟准备经营哪个市场？
如果把迪拜作为基地，向其他国家拓展业务，重点在于如何利用这里的跨境连接能力；如果目标是直接服务阿联酋消费者，就必须深入理解本土需求。前者不能因为设立了总部，就默认已经获得周边市场；后者也不能因为当地国际化程度高，就省略本土化工作。
这一区分同样适用于AI企业。在迪拜设立团队、寻找投资，只是经营起点。若要服务本地工业客户，企业就需要进入客户现场，理解既有系统、采购节奏及交付要求；若要以此拓展其他国家，则还要证明产品能够在不同客户与市场之间复制。
无论借助本地伙伴，还是自主搭建团队，企业最终都绕不开交付。渠道可以帮助企业找到客户，但从拿到订单到完成履约，中间仍有一整套需要衔接的工作。本地经营能力是否补齐，往往在这些环节显露出来。
阿联酋航空SkyCargo货运部高级副总裁Badr Abbas对出海参考表示，中国企业容易低估的，恰恰是货物落地之后的环节。一票货物可以在空中运输阶段完全准时，却因为单证、许可证或接收安排不完整，延误最终交付。
Badr观察到，先进电子产品、半导体相关产品、服务器设备，以及电商和医疗保健领域的运输需求正在增长。这些机会同时意味着更高的履约要求：高价值设备需要安全保障，部分货物需要温控，复杂项目需要多个环节按时衔接。技术和产品越复杂，企业越难把交付视作销售之后的附属工作。
外部环境变化还会放大这一问题。Badr表示，运输中断或改道可能带来额外运费、仓储、操作和单证工作；运输时间拉长，还可能要求企业增加库存、调整包装。企业进入市场时测算的成本与周期，需要为这些变化留出余地。因此，他建议中国企业应尽早让物流合作伙伴参与进来，携手物流合作伙伴达成一致的处理需求，并规划替代路线，这样当企业进入一个新市场时，其供应链即可与企业的发展同步就绪。
甘杜尔对地缘政治风险的回应，也保留了这种经营层面的审慎。先接触市场，再决定进入的时间和方式，是他给出的建议。
从消费互联网带产业AI，迪拜投资人寻找中国新标的，归根结底，是在寻找技术能力与当地需求之间可以成立的商业关系。对中国科技企业而言，出海迪拜不仅是确认哪里有需求，更在于如何把技术优势转化成实实在在的商业收入。（本文首发钛媒体APP 作者：Lily 编辑：杨秀娟）
本文由 AI图鉴自动抓取并翻译，版权归原作者所有；如需查看原文请点下方链接。
In the eyes of Dubai investors, Chinese enterprises are taking on a new face.
Electricians, payments and immediate distributions were once the most visible windows for their observation of China Tech. Today, the topic has begun to expand even deeper: access to industrial sites by robots, increased productivity by artificial intelligence, the generation of accumulated technology and experience in China, and local restructuring of supply chains.
Fadi Ghandour, Executive Chairman of the Wanda Group, spoke of an important change he had observed in his exchange with the offshore reference, from a consumer-based Internet-based approach to hard technology and artificial intelligence. Noor Sweid, founder and managing partner of Global Ventures, also indicated that attention was being paid to supply chains, physical artificial intelligence, manufacturing and material science, and how those technologies addressed the practical problems of enterprises.
Dubai capital is looking for a new direction for investment, mainly in the AI industry.
At the enterprise level, according to MAGNIT data, in the first half of 2026 the United Arab Emirates had access to financing for start-ups of $895 million, an increase of 53 per cent over the previous year, representing 66 per cent of the financing in the Middle East and North Africa region; at the investment level, Wanda investment data showed that the size of local investments ranged from $100,000 to $50 million. Investment in the industry as a whole averaged about $2.5 to $3 billion per year and was growing steadily.
Rather than a check waiting to be collected, Chinese technology firms are faced with a changing set of investment judgements: what is needed locally, what can be provided by Chinese firms, and whether this supply-demand relationship can grow into a business of continuous earning.
From competition for consumers to finding AI in industry.
In Gandur ' s account, logistics, instant distribution, electricians and payments are important entry points for a group of Chinese technology enterprises into the local market. Keeta, under the umbrella of the United States Corps, is an example he has repeatedly cited.
These operations provide local markets with direct insight into the organizational efficiency of Chinese enterprises: how to connect businesses with consumers, how to organize distribution networks, and how to adjust products quickly in competition. Now investors want to bring this capacity into more industries.
“Our focus is more on industry AI than on consumer AI, and investment is more focused on business services and industry scenes.” Noor Sweid stated in a recent exchange at the Dubai Business Forum. Noor Sweid is the founder and managing partner of Global Ventures, an international venture capital agency based in the United Arab Emirates.
It focuses on growing enterprises that are innovative in their efforts to meet real market demands, covering areas such as financial science and technology, medical science and technology, educational science and technology, agricultural science and technology, and enterprise-level SaaS, and helping to expand investment in the Middle East, Africa and other international markets.
Noor Sweid did not interpret AI alone as a popular track. She believed that changes in supply chains were an important starting point for judging technological opportunities. According to her presentation, Global Ventures re-engineered research and investment around the supply chain as early as 2023, extending its focus to physical artificial intelligence, manufacturing and material science. In her view, China ' s technological progress in those areas deserved continuous follow-up.
In February 2026, Immensa, an industrial science and technology enterprise, announced a new round of financial support for Global Ventures, the Dubai Futures Fund and existing investors.
This is sufficient to show that the Dubai Investment Agency has moved away from focusing only on certain technological advantages of firms, and equally on whether technology can be combined with manufacturing, supply and delivery capacity and eventually enter production processes. It is closer to a commercial decision-making system than a broad “AI-enabled” story, reducing the number of downtimes, the amount of the inventory burden and the amount of time spent.
As a demand-side initiative, Hadi Badri, Chief Executive Officer of the Dubai Economic Development Corporation, under the umbrella of the Dubai Ministry of Economy and Tourism, expressed the willingness of large indigenous enterprises, such as Emirates Airlines and the Dubai Global Ports Group, to work with technology and artificial intelligence enterprises to increase productivity. He attached particular importance to China ' s experience in the application of artificial intelligence to the ground.
Unlike the consumer Internet, consumer operations can be attractive through user growth, but AI technologies are tested, procured, delivered and maintained. The investment dimension extends further from a platform that can expand rapidly to a landing product that can deliver results in complex operations.
The real opportunities and difficulties for Chinese enterprises are here: how technologies and products that have already been tested at home should enter and improve the business systems and processes in Dubai.
National ranking 02, no substitute for certification in overseas markets
In the exchange, Gandur corrected two judgements as to what Chinese enterprises were more likely to obtain investment.
On the one hand, only heavy assets, physical operations and not software enterprises are welcome locally; on the other hand, investors choose only the top three companies in China.
His response was that there were significant local investment opportunities in the area of software and that industry ranking was not a requirement. “As an investor, I don't care if you're the top three in the industry. The core is the market where your products can really fit.”
The sentence sets an important boundary: Chinese market performance can help businesses gain attention, but it cannot be a substitute for certification in overseas markets.
In Gandor ' s view, entrepreneurs need to understand technology, have the will to promote product expansion and be able to adapt to the specifics of new markets. The so-called suitability is not merely a change of language or an increase in an overseas distribution channel, but rather whether the product, when it enters the area, still corresponds to real demand.
Noor Sweid shares this view. In her view, both for consumers and for business clients, Chinese companies were good at rapid iterativeization and could quickly launch new versions and explore new models. However, the value of this capability depends on the willingness of enterprises to adjust to feedback from overseas clients. Replicating and adapting is different. She stated that the most common mistake for overseas firms was to move the old model directly, assuming that the new market was the same as the home market.
In addition to products, investors are looking at where enterprises are prepared to start the next round of growth.
The investment logic of Global Ventures is to look for regionally based, globally expanding enterprises, as well as overseas companies that can access new markets in the region. Noor Sweid stressed that she was more concerned with where businesses would continue to grow than where they were originally born. The reasons for this are practical: when the investment is completed, she wants to be involved in enterprise development and to help the founders expand their operations, and geographical proximity helps to do so.
Under this logic, Dubai is not just a location for financing. Whether an enterprise is locally equipped to understand its clients and move its business forward, and whether investors and business teams work together on a continuous basis is more meaningful than a registered address.
At the same time, familiar investors in Chinese enterprises may also be part of overseas financing.
Gandur gave the example of robotics: the number of Chinese robotics companies was large, and it was impossible for investment agencies to be familiar with each other, so he wanted to interact with Chinese institutions that had invested in them. Chinese investors are better informed about the technological background of the enterprise, its competitive position and its original market, and can help local investors to form their judgement.
In the end, investment enthusiasm must return to returns. When talking about the portfolio, Noor Sweid said that they would think about how a single investment would achieve 10 times the return, rather than simply charging hundreds of times.
Industrial cooperation and global expansion are ultimately subject to the test of business results. For Chinese science and technology firms, a truly convincing financing story comes from a clear path between domestic accumulation and overseas growth: how much does a market leave behind an enterprise’s advantage, and what needs to be added.
It depends on the lack of capacity.
Access to investment and local business are not the same thing. Even if financing is not required, Chinese enterprises must answer: what is done on their own and what is available from local partners.
Gandur described two different paths with Biadi and Keeta.
Biadi chose to work with local distributors. In 2023, Biadi announced a partnership with the Dubai-based Al-Futtaim group to enter the United Arab Emirates market. The partners have both experience in car operations and a customer service network and a system of after-sale electric cars.
In Gandour ' s view, the value of this option is to reuse the local capacity that has been developed for sales and services. Chinese enterprises provide products and technologies, and local partners connect their products to the systems of purchase, maintenance and use that consumers know.
Keeta was cited by Gandur as an example of a more autonomous construction operation. In his view, the Mission ' s accumulated financial and operational capacity made it conditional to choose different modes of entry.
This does not mean that self-employment can be separated from local relationships. According to Gandur, the United States would also share information on regulation and markets with locals. His suggestion to Chinese enterprises was to find people who were familiar with the area first, which did not have to be conditional on obtaining investment.
The difference between the two paths lies not in who gives greater importance to localization, but in the different capabilities that enterprises lack. While the former would need to identify the actual resources of the partners, the latter would have to estimate the time, personnel and trial costs involved in building independence.
The other layer of distinction proposed by Noor Sweid is even more advanced: which market is the business coming to Dubai?
If Dubai is to be used as a base to expand its operations to other countries, the focus is on how to take advantage of its cross-border connectivity capacity; if the goal is to directly serve UAE consumers, there must be a deeper understanding of local needs. The former cannot default on gaining access to the surrounding market because of the establishment of headquarters; nor can the latter omit localization because of the high degree of local internationalization.
This distinction applies equally to AI enterprises. The establishment of teams in Dubai and the search for investment are only starting points. To serve local industrial clients, enterprises need to gain access to customer sites to understand existing systems, procurement tempo and delivery requirements; to expand other countries in this way, they need to demonstrate that products can be replicated between different customers and markets.
Either through local partners or through self-help teams, the enterprise is ultimately unable to deliver. Channels can help businesses to find customers, but from the time orders are received to the time of completion of performance, there is still a set of jobs that need to be linked. The adequacy of local capacity is often revealed at these points.
Badr Abbas, Senior Vice-President, SkyCargo Shipping Department of Emirates Aviation, indicated that Chinese enterprises were easy to underestimate, just after the goods landed. One ticket of goods could be fully punctual during the air transport phase, but the final delivery was delayed by incomplete documentation, licensing or reception arrangements.
Badr observed that the demand for advanced electronics, semiconductor-related products, server equipment, and transport in the fields of electricity and health care was growing. These opportunities mean, at the same time, higher performance requirements: high-value equipment requires safety and security, some goods require temperature control, and complex projects require multiple links on time. The more complex technologies and products are, the more difficult it is for enterprises to consider delivery as a subsidiary to sale.
Changes in the external environment also magnify the problem. Badr states that the interruption or re-routing of the transport may result in additional freight, storage, operation and documentation; the length of the transport may also require the enterprise to increase its stock and adjust its packaging. The costs and cycles measured when enterprises enter markets need to be left open for these changes. He therefore suggested that Chinese enterprises should involve logistics partners as early as possible, work together with logistics partners to agree on addressing demand and chart alternative routes so that, when a firm enters a new market, its supply chain could be aligned with the development of the enterprise.
Gandur's response to geopolitical risks also retains this level of caution. It was his advice to contact the market before deciding when and how to enter.
The search for new targets in China from the consumer Internet industry AI, Dubai investors, is ultimately a business relationship that can be established between technological capabilities and local demand. For Chinese science and technology enterprises, Dubai not only recognizes where there is demand, but also how to translate technological advantages into real business revenues. (APP author for titanium media: Lily ed: Yang Soo-chun)
Auto-fetched and translated by AI Atlas. All rights belong to the original author.