This note summarizes COVID-19 related impacts and the responses of Investment Promotion Agencies (IPAs) as observed by the World Bank Group’s (WBG) global operational portfolio and the findings of its April 2020 rapid survey of IPAs. A diverse group of segments from tourism and hospitality to logistics, automotive and transport, and textiles and apparel are experiencing severe disruptions. Other sectors, inter alia, IT, computer and software, media, pharmaceuticals and medical devices have been more resilient. Some may provide future growth opportunities. The survey finds that many IPAs have turned to working remotely, maintaining close communication with investors and providing assistance to resolve issues. At the moment, IPAs should prioritize retention services, which include keeping investors informed, solving their operational emergencies, and advocating for critical reforms not only for investors to survive the crisis but also to recover quickly.

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