Investment promotion is a government tool that can impact gender equality and women’s empowerment, embodied in Sustainable Development Goal (SDG) 5, by influencing the type of foreign direct investment (FDI) that is targeted and enhancing its benefits. At the same time, SDG 5 can strengthen a country’s enabling environment for FDI, by expanding the available talent pool and know-how, the local supplier base, entrepreneurial ecosystems as well as social cohesion, important for economic development and key determinants for foreign investors.