Unpredictable events and crises – such as the current COVID-19 pandemic –pose significant challenges to public authorities. Investment promotion agencies (IPAs) are at the forefront of business attraction and supply chain management and need to be ready to react quickly to these challenges. This note reviews the impact of the COVID-19 crisis on international investment flows and government responses. It summarises the findings of the OECD IPA Network meeting on 9 April 2020 and outlines short-term and long-term responses.