This work critically evaluates the role and extent investment promotion agencies played in the effort of two Central European states to attract foreign direct investment. Several variables defining the authority, political independence, competence of these government-established institutions, as well as variables that have effect on formulation, implementation and successfulness of a suitable investment promotion strategy were assessed. The detailed scrutiny of Czech and Slovak investment promotion agencies shows considerable differences in various aspects of their organizational structure, functions and their performance, all having impact on the quantity and quality of attracted FDI into their home economies. Moreover, both of the examined investment promotion agencies seem to at least partially influence the economic-development record of their country and its further developmental prospects. The primary contribution of this book dwells in its in-depth examination of two regionally competing national IPAs, currently missing in the investment promotion literature.