Business Insights on Emerging Markets 2015 provides views from the private sector on investment opportunities and challenges in Asia, Africa, and Latin America. It also highlights the dynamic changes in foreign direct investment (FDI) flows to and from developing countries in these regions. This report compiles analysis from discussions at meetings of the OECD Development Centre’s Emerging Markets Network (EMnet) on doing business in Africa, Asia and Latin America as well as through thematic work on green investment in emerging markets. A report by the Emerging Markets Institute at Cornell University complements this analysis with a study of the changing dynamics of global FDI flows and the increasing role played by multinational firms from developing countries in the global economy. Emerging countries represent an important destination of FDI and, increasingly, a source of outward investment from “emerging multinationals”, or multinational firms from emerging and developing economies. These countries received half of global FDI in 2014, a sharp increase from less than 20% of global FDI flows in 1985. Despite the economic downturn during 2008/09, FDI to emerging and developing countries fell less than that to Europe or North America, highlighting their strength as centres of growth with increasing populations, changing consumption patterns, and rising purchasing power.