This report by the UK Parliament’s Trade and Industry Committee explores the potential impacts of the proposed Multilateral Agreement on Investment (MAI) on local development, poverty reduction, and economic equality. While foreign investment can stimulate growth, the MAI’s emphasis on investor protection raises concerns about limiting national policy space for social and environmental priorities. The Committee calls for reforms that balance global trade with social justice, ensuring communities benefit from investment and that governments retain the ability to promote fair, sustainable development.