The COVID-19 pandemic has brought an additional set of challenges to the economies of the Middle East and North Africa (MENA). The region has been struggling to attract more and better FDI, constrained by investment climate weaknesses and regional geopolitical tensions. While the projected short-term declines are expected to hit the MENA economies hard, the crisis could also bring new opportunities to benefit from global trends, such as reshoring and restructuring of global and regional value chains. The extent to which this is possible will depend on sustaining existing reforms underway, enacting targeted new strategies and measures for the post-COVID-19 context, and reinforcing regional cooperation. This brief provides an overview of the impact of the COVID-19 crisis on investment in the region and highlights MENA government policy responses to catalyse investment and foster an inclusive post-crisis recovery.