This monograph explores the advantages and effectiveness of attracting foreign investments, focusing on their role in promoting economic growth and development. Foreign investments bring capital, technology, skills, and market access, which contribute to job creation, infrastructure development, and diversification of economies. The effectiveness of attracting foreign investments hinges on factors such as the policy and regulatory environment, political stability, infrastructure, human capital, and investment promotion efforts. By creating conducive conditions and integrating into regional and global markets, countries can harness the potential of foreign investments to drive sustainable economic transformation and enhance the well-being of their citizens.