Geneva: Governments around the world are not turning away from foreign investment, but the regulations governing it are undergoing significant transformations. According to Emirates News Agency, a record 229 investment policy measures were adopted by governments in 2025. . While the majority of these measures remain favorable to investors, policymakers are increasingly directing investment towards industries deemed critical for growth, resilience, technological leadership, and economic security. This shift indicates a broader change in how nations perceive investment, with the focus shifting from merely attracting more capital to securing investments that align with national priorities. The record number of measures introduced in 2025 does not signify a retreat into protectionism. Out of the 229 measures implemented globally, 167 were favorable to investors, representing 73% of the total. Unlike in past decades, when governments primarily pursued broad liberalization, today's measures are increasingly t ailored to guide investment towards specific sectors, technologies, and activities. Regions like Developing Asia were particularly active, implementing policies aimed at industrial upgrading, digital transformation, and green investment. Europe focused on industrial policy initiatives and investment screening, while Latin America and the Caribbean prioritized investment facilitation and investor retention. In Africa, favorable investment measures also outnumbered restrictive ones. At the same time, governments are becoming more vigilant about the sources and targets of investments. Restrictive measures accounted for 27% of all policy changes in 2025, up from 19% in 2016. The increase is largely linked to investment screening and national security concerns, with the number of economies operating such regimes rising from 21 in 2016 to 52 in 2025. Screening has particularly expanded in sectors involving critical technologies, sensitive data, infrastructure, and strategic assets. Nonetheless, the report indica tes that outright rejection of investments remains rare, with fewer than 1% of screened projects being blocked. This suggests that governments are striving to balance security concerns with the need to attract investment. The policy challenge lies in maintaining transparent, targeted, and risk-based screening processes to protect legitimate security interests without generating unnecessary uncertainty or hindering development opportunities. The growing focus on strategic and security-sensitive investment is also challenging the international investment agreement system. While countries signed 44 investment agreements in 2025, newer treaties are increasingly emphasizing facilitation and cooperation, though disputes continue to rely heavily on older-generation treaties.