In addition to enhancing the flow of foreign direct investment (FDI) into a country, transnational corporations (TNCs) play a significant role in the transfer of technology from developed to developing countries. This study analyses the activities of TNCs in ESCWA member countries with reference to the United Arab Emirates and Egypt as case studies. A study of these two countries, which are host to the highest number of TNCs among ESCWA member States, can assist other ESCWA member countries in adopting sound measures aimed at attracting TNCs and, consequently, FDI.