Fragile and conflict-affected situationsmight appear incapable of attracting significant flows offoreign investment due to their often negative internationalimages and weak enabling environments. However, during thelast eight years, foreign investment into these economieshas grown almost three times more quickly than flows intothe rest of the world, albeit from a very low startingpoint. Untapped natural resources, reconstruction needs, andseverely underserved consumer demand present domestic andforeign investors with significant opportunities, many ofwhich continue to go unrealized. This note provides guidanceto investment policymakers and promoters in fragile andconflict-affected situations, whose work is needed to bringthose opportunities to fruition.