After World War II, foreign direct investments (FDI) gained significant importan-ce in the international economy. Considering the increasing global population growth rate, economic growth is viewed as a key mechanism for maintaining the standard of living in society. According to a group of authors, Borensztein et al. (1998), FDI impacts economic growth by serving as an engine of technological diffusion from the developed world directed toward the target country. However, there are also theorists and studies that prove the opposite, namely the negative impact of FDI on economic growth. According to other researchers, such as Elkomy et al. (2016), based on an empirical analysis conducted across 61 developing and transitioning countries from 1989 to 2013, domestic investments are a more significant driver of econo-mic development in democratic states than FDI.